Finance UAE and Qatar in deal to avoid double taxation By Pramod Kumar May 31, 2024, 4:34 AM UAE finance ministry Mohamed Hadi Al Hussaini, UAE minister of state for financial affairs, and Qatari finance minister Ahmed Al Kuwari sign the tax agreement The UAE and Qatar have signed an agreement to prevent double taxation and curb fiscal evasion of income taxes. The agreement will enhance financial, economic, and investment partnerships between the two nations, UAE minister of state for financial affairs Mohamed Al Hussaini said. The move will bolster coordination and cooperation in tax matters, open up new investment opportunities, and stimulate trade, he added. NewsletterGet the Best of AGBI delivered straight to your inbox every week The aim is to strengthen bilateral economic and trade relations and fully protect companies and individuals from direct and indirect double taxation, the minister said. Ali bin Ahmed Al Kuwari, Qatari minister of finance, said the agreement will support international standards of transparency by exchanging documented financial information. Qatar calls for greater GCC cooperation as it diversifies economy Qatar explores gas, port and Gaza aid deals with Cyprus UAE considers R&D tax incentives to help SMEs The UAE has signed 146 double taxation avoidance agreements to date. Saudi Arabia was the only GCC country in the list, in addition to 114 agreements to protect and promote investments. According to the Qatar Financial Centre website, Qatar has concluded more than 80 double taxation agreements, including one in the GCC with Oman.
