UAE and Qatar Sign Landmark Double Taxation Avoidance Agreement

UAE, 25 June, 2024 :   UAE and Qatar have signed an agreement to avoid double taxation and prevent fiscal evasion of income taxes. The signing took place during the 121st GCC Financial and Economic Cooperation Committee meeting, with UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini and Qatari Minister of Finance Ali bin Ahmed Al Kuwari leading the respective delegations.

His Excellency Mohamed Al Hussaini highlighted the agreement's potential to enhance financial, economic, and investment partnerships between the two nations, boost tax cooperation, and open new investment opportunities. The agreement aims to diversify national income sources and protect goods and services from double taxation.

Al Hussaini emphasized the UAE’s commitment to strengthening trade and investment relations with partners, ensuring clarity for investors regarding their operations. His Excellency Ali bin Ahmed Al Kuwari noted the agreement’s role in supporting international transparency standards through the exchange of financial information, further strengthening bilateral economic relations.

The agreement aligns with the UAE’s strategy to expand international economic cooperation, protect investments, and facilitate profit transfers. The UAE has now signed 146 double taxation avoidance agreements and 114 agreements to protect and promote investments, providing a robust legal framework for its global investments.

Source : www.mof.gov.ae