21 June 2023 • 7 minute read
Tax Treaty developments GCC Member States
Ivory Coast ratifies Double Tax Treaty with United Arab Emirates
On 24 May 2023, the Council of Ministers of Ivory Coast ratified the Double Tax Treaty (DTT) with the United Arab Emirates (UAE). Further details will be reported as soon as they become available.
Russia and UAE hold second round of negotiations for revising existing Double Tax Treaty
According to a 12 June 2023 press release, a second round of negotiations took place to revise the Russia - UAE DTT. The currently existing DTT only has a limited scope of application to government and certain government institutions, and we expect this scope might be expanded under a revised DTT.
Czech Republic and UAE sign new Double Tax Treaty
On 24 May 2023, the Czech Republic and the UAE signed a new DTT, which should replace the existing DTT (from 1996) between both countries.
Oman and Egypt sign Double Tax Treaty
On 22 May 2023, Oman and Egypt signed a DTT and a Memorandum of Understanding on further financial cooperation.
Oman and Russia sign Double Tax Treaty
On 8 June 2023, Oman and Russia signed a DTT which establishes the following tax rates:
- General withholding tax of 15% on dividends, reduced to 10% on dividends for companies holding at least 20% of the shares; and
- 10% withholding tax on interest and royalties.
For the provisions to apply from 2024, the DTT needs to be ratified in both countries before the end of 2023.
Qatar - Egypt Double Tax Treaty approved by Egyptian Cabinet
The Egyptian Cabinet approved the DTT with Qatar, which was signed by both countries on 27 February 2023. Further details will be reported as soon as they become available.
Qatar and Uzbekistan sign Double Tax Treaty
On 6 June 2023, Qatar and Uzbekistan signed a DTT. Further details will be reported as soon as they become available.
Ivory Coast ratifies Double Tax Treaty with United Arab Emirates
On 24 May 2023, the Council of Ministers of Ivory Coast ratified the Double Tax Treaty (DTT) with the United Arab Emirates (UAE). Further details will be reported as soon as they become available.
Russia and UAE hold second round of negotiations for revising existing Double Tax Treaty
According to a 12 June 2023 press release, a second round of negotiations took place to revise the Russia - UAE DTT. The currently existing DTT only has a limited scope of application to government and certain government institutions, and we expect this scope might be expanded under a revised DTT.
Czech Republic and UAE sign new Double Tax Treaty
On 24 May 2023, the Czech Republic and the UAE signed a new DTT, which should replace the existing DTT (from 1996) between both countries.
Oman and Egypt sign Double Tax Treaty
On 22 May 2023, Oman and Egypt signed a DTT and a Memorandum of Understanding on further financial cooperation.
Oman and Russia sign Double Tax Treaty
On 8 June 2023, Oman and Russia signed a DTT which establishes the following tax rates:
- General withholding tax of 15% on dividends, reduced to 10% on dividends for companies holding at least 20% of the shares; and
- 10% withholding tax on interest and royalties.
For the provisions to apply from 2024, the DTT needs to be ratified in both countries before the end of 2023.
Qatar - Egypt Double Tax Treaty approved by Egyptian Cabinet
The Egyptian Cabinet approved the DTT with Qatar, which was signed by both countries on 27 February 2023. Further details will be reported as soon as they become available.
Qatar and Uzbekistan sign Double Tax Treaty
On 6 June 2023, Qatar and Uzbekistan signed a DTT. Further details will be reported as soon as they become available.
The GCC Member States continue expanding and updating their Double Tax Treaty networks for the benefit of international businesses.