Tax Treaty developments GCC Member States

Double Tax Treaty between the United Arab Emirates and Gabon enters into force

According to an updated overview of August 2023, published by the Ministry of Finance (MOF) of the United Arab Emirates (UAE), the Gabon – UAE Double Tax Treaty (DTT) entered into force on 16 February 2023. The DTT generally applies retroactively from 1 January 2019 for withholding and other taxes.

Double Tax Treaty between the UAE and Zambia enters into force

The above-mentioned overview from the UAE MOF also indicated that the Zambia – UAE DTT entered into force on 13 January 2023. The DTT generally applies from 1 January 2023 for withholding and other taxes.  

Cyprus authorizes negotiations for Double Tax Treaty with Oman

According to a statement from the Cyprus Ministry of Finance on 19 July 2023, the Council of Ministers of Cyprus authorized negotiations for a DTT with Oman. Further details will be reported as soon as they become available. 

Oman’s Shura Council authorizes Double Tax Treaty negotiations with Kazakhstan

On 18 July 2023, the Shura Council of Oman authorized the conclusion of a DTT with Kazakhstan. Further developments will be reported as they occur.

Kuwait and Kazakhstan in Double Tax Treaty negotiations

According to a press release of 8 August 2023, published by the Ministry of Finance of Kazakhstan, officials from Kazakhstan and Kuwait held a round of negotiations for a DTT, in Astana. Significant process was made on most DTT provisions and the remaining provisions of the draft treaty will be addressed in a future negotiation round. Further details will be reported as soon as they become available.

Conclusion

The GCC Member States continue expanding and updating their Double Tax Treaty networks for the benefit of international businesses