Kuwait, June 01 (QNA) - The State of Qatar, represented by the Ministry of Finance, and the State of Kuwait, represented by the Ministry of Finance, signed on Sunday an agreement on the avoidance of double taxation on income and the prevention of tax evasion and avoidance.

The agreement was signed by HE Minister of Finance Ali bin Ahmed Al Kuwari, representing the Qatari side, and HE Minister of Finance and Minister of State for Economic Affairs and Investment of the State of Kuwait Engineer Noura Sulaiman Al Fozan, representing the Kuwaiti side.

On this occasion, HE Ali bin Ahmed Al Kuwari emphasized the importance and effectiveness of the agreement, stating: “This agreement will contribute to supporting international standards of transparency through the exchange of verified financial information, as part of both countries’ commitment to strengthening coordination and cooperation in tax matters and economic relations.”

The agreement aims to establish a legal framework for tax treaties between the two countries to eliminate all instances of double taxation. It also seeks to enhance commercial cooperation, broaden investment opportunities for government entities and individuals, combat tax evasion, and support neutrality and fairness in the treatment of taxpayers. (QNA)