Qatar, Kuwait sign pact to avoid double taxation
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 Minister of Finance HE Ali bin Ahmed Al Kuwari, representing the Qatari side, and Minister of Finance and Minister of State for Economic Affairs and Investment of the State of Kuwait HE 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.'(QNA) page 8
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Jazeera
9 hours ago
- Al Jazeera
Ready to unlock financial freedom?
Did you know that women already control a third of the world's private wealth— and that number is expected to soar past 50% in the next 5 years? But how can you be part of that growth? Now You Know speaks with Cristina Jaeger, the founder of HerFinancialFreedom. Cristina's mission is to close the gender gap in wealth and investing and help women gain financial independence. She shares tips on how women can meet their financial goals.
Qatar Tribune
18 hours ago
- Qatar Tribune
Trading resumes at Damascus Securities Exchange after 6-month suspension
QNA & Agencies Damascus The trading resumption ceremony at the Damascus Securities Exchange commenced Monday after a six-monthsuspension. Syrian Minister of Finance Dr Mohammad Yusr Barniyeh emphasised that reopening the exchange is a sign that Syria's economy is beginning to recover and move forward. 'The Damascus Securities Exchange will operate as a private company and serve as a genuine hub for Syria's economic development, with a strong focus on digital,' the Syrian news agency (SANA) quoted the minister as saying. Executive Director of the Damascus Securities Exchange Dr Basel Asaad described the reopening as a historically significant milestone for Syria. He affirmed the exchange's readiness to resume operations and strengthen its role, anticipating broader and more substantial investments in Syria's evolving economy. Despite limited resources, Dr Asaad highlighted the exchange's success in carrying out its responsibilities with transparency and ensuring investor ownership protection. He expressed confidence in its ability to keep pace with future developments. Meanwhile, chairman of the Board of Directors of Damascus Securities Exchange Fady Al Golailaty said that the Damascus Securities Exchange will not merely be a platform for trading stocks and bonds, but will also play an active role in reconstruction, economic growth, and attracting both local and internationalinvestments. He added that it will contribute to stabilising the national currency and integrating the Syrian economy with global economies. The resumption comes as Syria's new administration intensifies efforts to revive the economy and rebuild the country after 24 years under the ousted regime of Bashar al-Assad. The regime's fall was followed by the establishment of a new government led by Ahmad al-Sharaa, who had led anti-regime forces to oust Assad. In late January, Al-Sharaa was declared president for a transitional period.
Qatar Tribune
a day ago
- Qatar Tribune
Cooperation with Qatar in customs field enhances economic security: Jordanian Customs director-general
AMMAN: Director-General of Jordanian Customs Maj Gen Ahmad Akalik has praised the partnership with the General Authority of Customs describing it as exemplary and a model to follow in the field of Arab customs integration. In an exclusive statement to Qatar News Agency (QNA), the Director-General of Jordanian Customs said that the cooperation between Jordan and Qatar in the customs field reflects a shared commitment to modernizing performance and enhancing the efficiency of the customs system in a way that supports development and strengthens economic security. He explained that the relationship with the State of Qatar's General Authority of Customs is based on the actual exchange of expertise and direct insight into smart and modern work systems. He affirmed that the General Authority of Customs has demonstrated advanced readiness in adopting technological solutions that contribute to reducing customs clearance time to just a few minutes. Akalik noted that Jordan Customs has benefited from the Qatari experience in several areas such as electronic tracking, automation of procedures, risk management, and streamlining the movement of goods. He confirmed that this cooperation has helped Jordan prepare to adopt new operational models that align with international standards. Jordan's Customs Department is currently working on a comprehensive customs system project that will bring all customs operations under one electronic umbrella, based on the global 'ASYCUDA'system. He underlined that the project has entered the procedure-mapping phase to unify work mechanisms across various crossings, including Jaber, Al-Omari, Al-Karama, and others, aiming to eliminate redundancies and create a unified smart customs environment. He affirmed that the system will also integrate with the human resources system, granting employees their authorities based on tasks rather than geographic location, which enhances discipline and reduces waste in resource allocation. Regarding the new customs law in Jordan, Akalik explained that it is considered a modern law built on three main pillars: the first is activating post-clearance audit instead of border inspection, which facilitates trade and reduces pressure on border crossings; the second is unifying regulatory bodies under the umbrella of the Customs Department to simplify procedures; and the third is formally integrating technology into the customs process, allowing stakeholders to remotely monitor inspection processes. He added that the new law has resolved many contentious issues such as value assessment and the timing of goods seizure. He noted that the law was the result of national dialogue with various partners and was smoothly passed through the countryط·s legislative institutions. In terms of facilitation, he revealed that the department launched a pre-clearance system for goods at the beginning of June, based on a trader's declaration, with subsequent audits conducted under a smart risk system. This significantly reduces time and effort at border crossings, he added. The system will initially be applied to compliant companies on the silver list, with continuous evaluation for broader implementation, he said, affirming that the project will lead to a major reduction in customs clearance times and enhance competitiveness. Regarding e-commerce, the Director-General of Jordanian Customs said that Jordan's e-commerce center is among the first specialized centers in the region and has recently handled over 1 million bills of lading. He pointed out that Customs is working to strike a balance between e-commerce and traditional trade in cooperation with the Jordan Chamber of Commerce.
