Team Blitz India
THE UAE and the State of Qatar have signed an agreement to avoid double taxation and prevent fiscal evasion of income taxes, as per a report in the Gulf Today.
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, 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, 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. Al Hussaini 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.
Al Hussaini 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.
