The UAE and Qatar have reached an agreement to prevent double taxation and avoid fiscal evasion related to income taxes.
The agreement was signed by Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and Ali bin Ahmed Al Kuwari, Qatari Minister of Finance.
This signing took place during the 121st meeting of the GCC Financial and Economic Cooperation Committee in Doha.
Al Hussaini emphasized the significant impact of the agreement, noting that it will enhance financial, economic, and investment ties between the UAE and Qatar. Additionally, it will improve tax coordination and cooperation, create new investment opportunities, and stimulate trade.
The agreement is also expected to diversify national income sources and provide extensive protection for goods and services.
Al Hussaini highlighted that this agreement will strengthen economic and trade relations between the two nations and offer full protection against direct and indirect double taxation for companies and individuals.
To date, the UAE has signed 146 agreements to avoid double taxation and 114 agreements to protect and promote investments.
