Egypt, Qatar ink agreement to eliminate double taxation on income

Egypt, Qatar ink agreement to eliminate double taxation on income

Qatar and Egypt signed Monday in Doha a deal to remove double taxation on income, and prevent tax invasion and avoidance, the Egyptian government announced in a statement.

The agreement includes detailed provisions for the taxation rules and conditions by both countries, to prevent tax duplication, with respect to taxes on income from non-transferable assets, business profits, international sea and air transport activities, and joint projects, stock gains, interest and capital gains, as well as independent and non-independent personal services, the statement said.

The agreement was signed by the Egyptian and Qatari Ministers of Finance, Mohamed Moait and Ali bin Ahmed Alkawari, in the presence of the two countries’ Prime Ministers Mustafa Madbouli and Sheikh Khaled bin Khalifa bin Abdulaziz Al Thani.

The two countries will share required information to implement the provisions of the convention, or to administer or implement national tax laws of the two states.

Egypt argues that the agreement comes within the framework of bolstering bilateral economic relations and shoring up cooperation in several fields.
It is also part of Egypt’s efforts to attract local and foreign investments, boost its production capacities, and widen its export base.

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