Qatar and Saudi Arabia Sign Pact to Prevent Double Taxation, Strengthen Economic Ties

KSA, 31 May, 2024 :  In a move to bolster economic relations, Qatar and the Kingdom of Saudi Arabia have signed an agreement aimed at avoiding double taxation and preventing fiscal evasion concerning income taxes.

Represented by their respective Ministries of Finance, the agreement was signed by His Excellency Mr. Ali bin Ahmed Al Kuwari, Minister of Finance for Qatar, and His Excellency Mr. Mohammed Aljadaan, Minister of Finance of Saudi Arabia.

The signing ceremony, attended by H.E. Mr. Khalifa bin Jassim Al-Kuwari, President of the General Tax Authority, underscores Qatar's commitment to enhancing economic relations and trade cooperation with sisterly countries. It marks a significant milestone in eliminating double taxation and combating tax evasion between Qatar and Saudi Arabia.

By adhering to global transparency standards and facilitating the exchange of financial information, the agreement creates a fair and equitable tax environment, fostering enhanced commercial cooperation and wider investment opportunities for governments and individuals. This aligns with Qatar's official foreign investment strategy and supports the goals of Qatar National Vision 2030.

The agreement builds on the efforts of the General Tax Authority to promote trade, facilitate exports, and establish strong trade links with key regional and international markets, in line with Qatar's vision for economic development.

Source : www.gta.gov.qa