Tax Treaty developments GCC Member States

UAE and Ukraine’s Double Tax Treaty amending Protocol enters into force

The amending protocol to the Double Tax Treaty (DTT) between the UAE and Ukraine entered into force on 19 October 2023. The protocol will generally apply from 1 January 2024. Some of the amendments involve a change of withholding tax rates for interest (from 3% to 5%) and royalties (from 0% to 5%).

 

Saudi Arabia approves extension of implementation of Double Tax Treaty with France

On 21 November 2023, Saudi Arabia approved the extension of the implementation of the DTT between Saudi Arabia and France. Connoisseurs (no pun intended) of this uniquely drafted DTT await further developments and we will report on those as they occur.

 

Saudi Arabia signs Double Tax Treaty with Slovakia

On 13 November 2023, Saudi Arabia and Slovakia signed a DTT. Further details will be reported as soon as they become available.

 

Saudi Arabia and Gambia sign Double Tax Treaty

On 9 November 2023, Saudi Arabia and Gambia signed a DTT. Further details will be reported as soon as they become available.

 

Council of Ministers of Saudi Arabia authorizes the signing of a Double Tax Treaty with Qatar

On 31 October 2023, the Saudi Arabian Council of Ministers authorized the signing of a DTT with Qatar. Further details will be reported as soon as they become available.

 

Qatar and Ukraine’s Double Tax Treaty amending Protocol enters into force

The amending protocol to the Double Tax Treaty (DTT) between Qatar and Ukraine entered into force on 11 June 2023. The protocol will generally apply from 1 January 2024. One of the amendments involves a change to the DTT’s provision on Limitation of Benefits, for which a main purpose is introduced.

 

Kazakhstan authorizes signing Double Tax Treaty with Oman

On 10 November 2023, the Kazakhstan Minister of Finance was authorized by its government to sign a DTT with Oman. Further details will be reported as soon as they become available.

 

Kuwait and Paraguay Double Tax Treaty discussed

A press release of 26 October 2023, published by the government of Paraguay, stated that Kuwait and Paraguay discussed the signing of a DTT, during a recent meeting between government officials of the two jurisdictions. 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.