Minister of Finance H E Ali bin Ahmed Al Kuwari and Minister of Finance of the Kingdom of Saudi Arabia H E Mohammed Aljadaan during the agreement signing.
Doha, Qatar: The State of Qatar, represented by its Ministry of Finance, and the sisterly Kingdom of Saudi Arabia, represented by the Saudi Ministry of Finance, signed an agreement aimed at avoiding double taxation and preventing fiscal evasion concerning income taxes.
The agreement was signed by H E Ali bin Ahmed Al Kuwari, Minister of Finance, representing the Qatari side, and H E Mohammed Aljadaan, Minister of Finance of the Kingdom of Saudi Arabia, representing the Saudi side.
During this occasion, H E Ali bin Ahmed Al Kuwari, pointed out the importance of this agreement and its effective role, saying “The agreement will contribute to supporting international standards of transparency through the exchange of documented financial information, within the framework of the two countries’ commitment to strengthening coordination and cooperation in tax matters and economic relations.”
Minister Aljadaan said that the agreement is part of efforts to strengthen legislative coordination between the Kingdom of Saudi Arabia and the sisterly State of Qatar, which contributes to encouraging trade exchange between the two nations, as well as attracting investments to the region.
The agreement aims to establish tax treaties between the two countries to eliminate all cases of double taxation. Additionally, it seeks to enhance trade cooperation and expand investment opportunities for both governmental bodies and individuals, while simultaneously combating tax evasion and supporting neutrality and equality in individuals’ treatment.
