The UAE and the State of Qatar have signed an agreement to avoid double taxation and prevent fiscal evasion of income taxes.
His Excellency Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, highlights the transformative potential of the UAE-Qatar agreement, emphasizing its role in enhancing financial partnerships, stimulating trade, and providing comprehensive protection against double taxation. The agreement aims to strengthen economic ties, open new investment opportunities, and clarify operational status for investors in both countries, aligning with the UAE Ministry of Finance's commitment to fostering trade and investment relations.
For his part, His Excellency Ali bin Ahmed Al Kuwari, Qatari Minister of Finance, 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.
