Qatar and UAE Sign Agreement to Prevent Double Taxation

Doha, The Gulf Observer: The State of Qatar and the United Arab Emirates (UAE) have inked an agreement aimed at avoiding double taxation and preventing fiscal evasion concerning income taxes. The agreement was signed by HE Ali bin Ahmed Al Kuwari, Minister of Finance for Qatar, and HE Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs of the UAE.

HE Ali bin Ahmed Al Kuwari emphasized the significance of the agreement, stating, “The agreement will contribute to supporting international standards of transparency through the exchange of documented financial information, which comes in light of strengthening bilateral economic relations between the two countries.”

In response, HE Mohamed bin Hadi Al Hussaini highlighted the agreement’s role in enhancing economic and trade relations between Qatar and the UAE. He emphasized that the agreement fully protects companies and individuals from direct or indirect double taxation.

“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, and financial activities and any other activities within the countries that have an active economic relation with the UAE,” said HE Mohamed bin Hadi Al Hussaini.

The agreement aims to establish tax treaties that eliminate all forms of double taxation between Qatar and the UAE. Its implementation is expected to prevent tax evasion, ensure fairness and equality in the treatment of individuals, and enhance trade cooperation while increasing investment opportunities between governments and individuals of both nations.