Search DubaiPRNetwork.com

Dubai and UAE
Home >> Government, Legal & Humanity

UAE and Qatar Sign Double Taxation Avoidance Agreement

UAE and Qatar Sign Double Taxation Avoidance Agreement

Thursday, May 30, 2024/ Editor -  

Share

Home >> Government, Legal & Humanity

Doha, State of Qatar: May 30, 2024 – The UAE and the State of Qatar have signed an agreement to avoid double taxation and prevent fiscal evasion of income taxes.

The agreement was signed by His Excellency Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and His Excellency Ali bin Ahmed Al Kuwari, Qatari Minister of Finance, in the presence of several officials from both sides. This took place on the sidelines of the 121st meeting of the GCC Financial and Economic Cooperation Committee.

Commenting on the agreement signing, His Excellency Mohamed 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. Furthermore, it will play a crucial role in diversifying national income sources and providing comprehensive protection for goods and services.

He pointed out that this agreement contributes to strengthening the economic and trade relations between the two countries and provides full protection for companies and individuals from direct and indirect double taxation.

His Excellency said: “The UAE Ministry of Finance is keen to strengthen its trade and investment relations with all partners by developing mechanisms that clarify to investors the status of their operations in trade, economic, financial, and other activities in countries that have active economic relations with the UAE.”

For his part, His Excellency Ali bin Ahmed Al Kuwari, stressed the importance of this agreement and its effective role. He said: “The agreement will contribute to supporting international standards of transparency through the exchange of documented financial information, which comes in light of strengthening bilateral economic relations between the two countries.”

The signing of the agreement stems from the UAE’s keenness to expand its network of international and Arab relations, enhance economic and investment cooperation with various countries worldwide, protect UAE investments from all non-commercial risks, facilitate the transfer of profits and returns, and regulate dispute resolution.

Notably, the UAE has signed 146 double taxation avoidance agreements to date. In addition, it has signed 114 agreements to protect and promote investments. Together, these agreements provide a legal framework that protects UAE investments worldwide.


Previous in Government, Legal & Humanity

Next in Government, Legal & Humanity


Home >> Government, Legal & Humanity Section

Latest Press Release

A journey through time and Space Launching July 2024

Mohammed Bin Rashid Library Celebrates World Music Day With Orchestra Performanc ...

Dubai Health Authority Envisions Future of Healthcare for 2030

Royal Grammar School Guildford Dubai's Excellence Recognised with Very Good KHDA ...

Menzies Aviation net zero targets approved by SBTi

SSUP Appoints Hatem S. Al Mandeel as the New General Manager for KSA

Kia Middle East and Africa Introduces New Sonet Restyled Model in the Region

Renault Megane, Duster, and Koleos Maintain Strong Demand in UAE Market

Amouage presents Rare Is The Rose, a poetic and cinematic tribute to the Omani R ...

UAE sweep national time trial golds as Novak crowned Slovenian road race champio ...

Dubai Sports Council evaluates Football Academies in Dubai

30sundays unveils a vibrant summer collection inspired by the Colours of the Sky

Real Estate Development: The Cornerstone of Corporate Social Responsibility and ...

Dubai Culture recognised twice at GovMedia Conference & Awards

Line Investments & property, Summer Super Sale gets its Second set of winners, a ...

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Tra ...

UAE Team Emirates confirm eight riders to take on Tour de France

EarthSoul Festival debuts in a spectacular celebration of music and eco-consciou ...

Create Cherished Family Memories This Father's Day With The LG Cinebeam Q

Family Development Foundation organises interactive ‘Sustainable Integration and ...