{"id":88933,"date":"2024-02-12T00:00:00","date_gmt":"2024-02-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/govt-signs-tax-treaties-with-bahrain-kuwait-and-egypt\/"},"modified":"2024-02-12T00:00:00","modified_gmt":"2024-02-12T00:00:00","slug":"govt-signs-tax-treaties-with-bahrain-kuwait-and-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/12\/govt-signs-tax-treaties-with-bahrain-kuwait-and-egypt\/","title":{"rendered":"Gov\u2019t signs tax treaties with Bahrain, Kuwait, and Egypt"},"content":{"rendered":"

No more dual taxation with Bahrain, Kuwait, and Egypt:<\/strong>The Finance Ministry signed agreements yesterday at the World Governments Summit with three Arab countries to eliminate dual taxation, with an eye to crack down on tax evasion. <\/p>\n

#1- Bahrain:<\/strong> The two countries will prevent double taxation on income tax, after signing their first tax treaty, according to a ministry statement<\/a>. The ministry and the Kingdom of Bahrain also signed an agreement to promote and \u201cprotect\u201d investments, according to the statement. <\/p>\n

#2- Kuwait: <\/strong>The ministry signed an agreement with Kuwait yesterday to eliminate double taxation on income and capital taxes, according to a statement<\/a>.<\/p>\n

#3- <\/strong>Egypt<\/strong>:<\/strong> TheFinance Ministry signed a supplementary agreement with Egypt\u2019s Finance Ministry yesterday to prevent double taxation between the two countries, according to the Egyptian ministry\u2019s readout<\/a>. The original agreement was signed in November 2019 and ratified by Egypt\u2019s President Abdel Fattah El Sisi in June 2021.<\/p>\n

Aiming to attract Emirati investors and facilitate all business procedures<\/strong>, including tax and customs obstacles, Egypt signed the agreement to reel in more Emirati investments and businesses in Egypt, Egyptian Finance Minister Mohamed Maait told Wam<\/a>. <\/p>\n

Egypt also explores bond issuances in GCC: <\/strong>As part of its efforts to diversify its economy and financing instruments, Egypt is currently studying issuing bonds in the GCC\u2019s stock markets to \u201cexpand the base and segments of international investors,\u201d Maait said, nodding to Egypt\u2019s efforts with the Emirates to further cooperation and explore potential joint projects between the two countries. <\/p>\n","protected":false},"excerpt":{"rendered":"

The finance ministry signed dual tax agreements to crack down on tax evasion<\/p>\n","protected":false},"author":1,"featured_media":88934,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1626],"tags":[595,23,7,11,527,1379],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax","tag-bahrain","tag-egypt","tag-enterpriseam-uae","tag-finance-ministry","tag-kuwait","tag-tax","wpautop","entry"],"acf":{"mongo_id":"19d38907-6897-4474-bc15-30c6546f531a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/917.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gov\u2019t signs tax treaties with Bahrain, Kuwait, and Egypt","related_issue":[88920],"teaser":"The finance ministry signed dual tax agreements to crack down on tax evasion","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.673d6266-90c1-4dec-b412-8e7178bad1da.mp3"},"yoast_head":"\nGov\u2019t signs tax treaties with Bahrain, Kuwait, and Egypt - 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