On Thursday, The United Arab Emirates (UAE) and Qatar signed an agreement to avoid double taxation and prevent fiscal evasion of income taxes. The UAE Minister of State formalised the agreement for Financial Affairs Mohamed Hadi Al Hussaini and Qatari Minister of Finance Ali bin Ahmed Al Kuwari during the 121st GCC Financial and Economic Cooperation Committee meeting.
Al Kuwari highlighted the agreement’s role in supporting international transparency standards by facilitating the exchange of financial information, thus strengthening bilateral economic relations.
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.”
This agreement is part of the UAE’s broader strategy to expand its international and Arab economic partnerships, protect its investments from non-commercial risks, and facilitate profit transfers and dispute resolutions. The UAE has signed 146 double taxation avoidance agreements and 114 investment protection agreements, establishing a strong legal framework for UAE investments worldwide
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