Qatar, represented by the Ministry of Finance, and Kuwait, represented by its Ministry of Finance, have formalized an agreement aimed at avoiding double taxation on income while also preventing tax evasion and avoidance.
The agreement was signed by His Excellency Minister of Finance Ali bin Ahmed Al Kuwari, representing Qatar, and H.E. Minister of Finance and Minister of State for Economic Affairs and Investment of Kuwait, Engineer Noura Sulaiman Al Fozan, representing Kuwait, as reported by Qatar News Agency (QNA).
Focus on expanding investment opportunities
On this occasion, H.E. Ali bin Ahmed Al Kuwari highlighted the significance and effectiveness of the agreement, stating: “This agreement will contribute to supporting international standards of transparency through the exchange of verified financial information, as part of both countries’ commitment to strengthening coordination and cooperation in tax matters and economic relations.”
The primary objective of the agreement is to establish a legal framework for tax treaties between the two nations to eliminate all instances of double taxation. It also aims to enhance commercial collaboration, expand investment opportunities for both government entities and individuals, combat tax evasion, and promote neutrality and fairness in the treatment of taxpayers.
