AbuDhabiPR.com, Online Press Release from Abu Dhabi and Al Ain
 
Government Sector(Government, Legal & Humanity)
Filter PR by
  
UAE and Qatar Sign Double Taxation Avoidance Agreement
 
UAE and Qatar Sign Double Taxation Avoidance Agreement

Doha, State of Qatar: May 30, 2024 – The UAE and the State of Qatar have signed an agreement to avoid double taxation and prevent fiscal evasion of income taxes.

The agreement was signed by His Excellency Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and His Excellency 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, His Excellency Mohamed 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.

He 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.

His Excellency 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.”

For his part, His Excellency Ali bin Ahmed Al Kuwari, stressed the importance of this agreement and its effective role. He said: “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.”

The signing of the agreement stems from the UAE’s keenness to expand its network of international and Arab relations, enhance economic and investment cooperation with various countries worldwide, protect UAE investments from all non-commercial risks, facilitate the transfer of profits and returns, and regulate dispute resolution.

Notably, the UAE has signed 146 double taxation avoidance agreements to date. In addition, it has signed 114 agreements to protect and promote investments. Together, these agreements provide a legal framework that protects UAE investments worldwide.

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 3439 times
PR Category : Government, Legal & Humanity
Posted on : Thursday, May 30, 2024  5:11:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AbuDhabiPR.com.
Previous Story : Economic Integration Committee reviews progress of National ...
Next Story : UAE Health Minister takes part in the 77th World Health Asse...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Slay the sun-kissed girl makeup look: Your Ultimate Guide [35192-Views]
Catrice Cosmetics Introduces the Clean Girl Makeup Look with New Essentials! [33761-Views]
Hysek reveals iconic timepieces at Watches & Wonders 2024 [33726-Views]
Ogilvy Appoints Antonis Kocheilas Global Chief Transformation Officer [25236-Views]
Indonesia showcases diverse tourism offerings at Arabian Travel Market Dubai 2024, strengthens regio... [24481-Views]
Catrice Unveils the Spring/Summer 2024 Collection: Introducing Shine Bomb Lip Lacquer! [23768-Views]
Zoom appoints Mohannad AlKalash as new Managing Director for METAP, affirming commitment to the regi... [22610-Views]
POCO Sets New Standard with Global Launch of F-Series in Dubai [19577-Views]
Unleash Your Inner Royalty with "Call me Queen" Dramatic False Lash Effect Mascara by esse... [19478-Views]
Ground Handling Priorities: Safety, Global Standards and Sustainability [18607-Views]
UAE Ministry of Finance Participated in 2024 IsDB Group Annual Meetings [17621-Views]
Panasonic Announces FY24 Business Strategy For Sustained Growth in Middle East and Africa [15896-Views]
WFP News Video: WFP Warns Unprecedented Drought and Floods Causing Surge in Climate Related Hunger [13990-Views]
UAE Ministry of Finance Meets with Government Expenditure and Projects Efficiency Authority of Saudi... [13979-Views]
Air Cargo Demand Continues Strong Growth into Q2 [13151-Views]
Al Masaood Bergum Showcases Innovative Modular Solutions at Saudi Giga Projects 2024 & MENA Construc... [12724-Views]
Hunger Hotspots Report: Famine Looms In Gaza While Risk Of Starvation Persists In Sudan, Haiti, Mali... [12220-Views]
Urgent Call To Action To Address Historic El Niño Drought In Southern Africa [12142-Views]
IATA SAF Registry [11627-Views]
Liali Shines Brighter: New Boutique, Brand Identity and Collection to start a New Era [9518-Views]
 
RSS Facebook Twitter LinkedDin AbuDhabiPR.com on Instagram
 
Top Sections
 
Top Stories