Tax Treaty developments GCC Member States

Bahrain and UAE Finalize Double Tax Treaty

On February 11, 2024, a landmark agreement was reached between Bahrain and the UAE with the signing of a Double Tax Treaty (DTT). This significant event took place at the Annual Arab Fiscal Forum and the World Governments Summit in Dubai. We will continue to monitor and report on any new developments related to this treaty.

UAE and Egypt Enhance Double Tax Treaty with New Protocol

A pivotal amendment to the existing Double Tax Treaty (DTT) between the UAE and Egypt was formalized on February 11, 2024, through the signing of a new Protocol. This development aims to strengthen the fiscal relationship between the two countries. Updates on this matter will be provided as they become available.

Kuwait and UAE Establish Double Tax Treaty

In a move to bolster economic ties, Kuwait and the UAE signed a DTT on February 11, 2024. The signing ceremony was a highlight of the Annual Arab Fiscal Forum and the World Governments Summit held in Dubai. Further information on the treaty's implementation will be shared in due course.

Saudi Arabia Prepares for Double Tax Treaty with Iceland

The Saudi Arabian Council of Ministers gave its approval on February 20, 2024, for the signing of a DTT with Iceland. This decision marks a significant step towards formalizing the treaty, with more details to be announced as they unfold.

Saudi Arabia and Serbia Finalize Double Tax Treaty Negotiations

Negotiations between Saudi Arabia and Serbia culminated on February 8, 2024, with an agreement to establish a DTT. This treaty is anticipated to enhance the economic cooperation between the two nations. We will provide updates on the progress of this treaty.

Kuwait and Saudi Arabia Plan for Double Tax Treaty

On January 31, 2024, Kuwait and Saudi Arabia expressed a mutual interest in negotiating a DTT. This initiative aims to foster a stronger economic partnership between the two countries. Details on the negotiation's progress will be reported as they emerge.

Slovak Republic Implements Double Tax Treaty with Saudi Arabia

Following the signing on November 13, 2023, the Slovak Republic officially ratified its DTT with Saudi Arabia on January 18, 2024. This ratification signifies the completion of formalities required to bring the treaty into effect. Future developments will be communicated accordingly.

Qatar and Tajikistan Sign Double Tax Treaty

A DTT was signed between Qatar and Tajikistan on January 22, 2024. This agreement represents a milestone in the financial relations between the two countries. We will keep you informed of any further advancements related to this treaty.

Oman and Azerbaijan Progress Towards Double Tax Treaty

On February 16, 2024, Oman and Azerbaijan made significant headway in their negotiations for a DTT. While most terms have been agreed upon, further discussions are scheduled to finalize the agreement. Updates will be provided as negotiations continue.

Oman and Cyprus Close to Finalizing Double Tax Treaty

A press release dated January 28, 2024, announced that Oman and Cyprus are on the verge of finalizing a DTT. This treaty is expected to enhance the economic links between the two jurisdictions. Further information will be shared as it becomes available.