Saudi Arabia and Qatar sign tax rules agreement

Saudi Arabia’s minister of finance, Mohammed Al-Jadaan, and his Qatari counterpart, Ali Al-Kuwari, signed an agreement on Thursday designed to avoid the possibility of double taxation and prevent tax evasion.

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During the signing ceremony in Doha, Al-Jadaan said the agreement is part of efforts to strengthen legislative coordination between the two countries, to encourage bilateral trade and attract investment to the region, the Saudi Press Agency reported.

Al-Kuwari highlighted the important nature of the agreement and the effective role it will play in these efforts, adding that it will help to ensure international standards of transparency are in place, through the exchange of financial information as the nations work together on taxation and economic relations.