The UAE and Qatar have signed an agreement to avoid double taxation and prevent fiscal evasion of income taxes.
The agreement was signed by Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, and Ali bin Ahmed Al Kuwari, Qatari Minister of Finance.
This took place on the sidelines of the 121st meeting of the GCC Financial and Economic Cooperation Committee in Doha.
Al Hussaini underscored the agreement’s transformative potential, stating that it will not only enhance financial, economic and investment partnerships between the UAE and Qatar, but also bolster coordination and cooperation in tax matters, open up new investment opportunities, and stimulate trade.
It will also play a crucial role in diversifying national income sources and providing comprehensive protection for goods and services.
He pointed out that the agreement contributes to strengthening economic and trade relations between the two countries and provides full protection for companies and individuals from direct and indirect double taxation.
The UAE has signed 146 double taxation avoidance agreements to date. In addition, it has signed 114 pacts to protect and promote investments.
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