Arab News
Kuwait times, Tue, Jun 03, 2025 | Dhu al-Hijjah 7, 1447
Kuwait moves to align tax, investment policies with Qatar, Saudi Arabia
Kuwait:
The Kuwaiti Ministry of Finance signed two
separate agreements on Sunday with its counterparts in Saudi Arabia and Qatar.
The agreements aim to support regional financial cooperation and enhance
economic integration among Gulf Cooperation Council (GCC) countries.
Minister of Finance and Minister of State for
Economic Affairs and Investment, Noura Al-Fassam, affirmed in a press statement
following the signings that the ministry is committed to strengthening economic
collaboration within the GCC and providing all necessary means to achieve deeper
economic integration among member states.
Minister Al-Fassam represented Kuwait in the
signing ceremonies. Representing Saudi Arabia was Minister of Finance Mohammed
Al-Jadaan. The agreement with Saudi Arabia focuses on coordination on financial
issues at both regional and international levels, and includes areas such as the
development of financial policies, legislation, and regulatory frameworks to
serve mutual interests.
The Qatari side was represented by Minister of
Finance Ali Al-Kuwari. The agreement with Qatar addresses the avoidance of
double taxation and prevention of tax evasion. It also aims to facilitate
investments, enhance capital flows, and align tax policies between the two
countries. Additionally, the agreement includes provisions for tax exemptions
and reductions on profits and interest, offers preferential treatment for
government investment entities, and outlines mechanisms for the mutual
settlement of future tax disputes between the two brotherly nations.