On 30 August 2022, the Kuwait Ministry of Finance announced that the State of Kuwait (Kuwait) and the United Arab Emirates (UAE) recently signed a Treaty for the avoidance of double taxation (“the Tax Treaty”).
The objective of the Tax Treaty is to strengthen the co-operation frameworks in tax matters and unite the financial, economic, and investment partnership between the two countries.
This is in line with the efforts of both countries in growing investment opportunities, encouraging commercial trading and enhancing the development goals of both countries through diversifying the sources of national income and providing full protection of goods and services.
This is the first Tax Treaty that Kuwait has signed with any Gulf Cooperation
Council (GCC) member state.
We will keep you updated with the key provisions of the Tax Treaty as soon as we obtain the signed version.