Tax Treaty developments GCC Member States

Cambodia and the United Arab Emirates make significant progress on Double Tax Treaty

According to a press release of 22 August 2023, the United Arab Emirates (UAE) and Cambodia have made significant progress, during a third negotiation round, towards a Double Tax Treaty (DTT) between the two countries. One DTT article remains under negotiation and further details will be reported as soon as the jurisdictions conclude those discussions.

Uzbekistan ratifies Double Tax Treaty with Qatar

On 28 August 2023, the president of Uzbekistan ratified the DTT with Qatar. The Uzbekistan – Qatar DTT was signed on 6 June 2023. Further details will be reported as soon as they become available.

Saudi Arabia’s Council of Ministers approves Double Tax Treaty with Sri Lanka

On 29 August 2023, the Council of Ministers of Saudi Arabia approved the DTT with Sri Lanka. The Saudi – Sri Lanka DTT was signed on 26 January 2023. Further developments will be reported as they occur.

United Arab Emirates Cabinet approves Double Tax Treaty with Ivory Coast

On 4 September 2023, the UAE Cabinet of Ministers approved the DTT with Ivory Coast. The UAE – Ivory Coast DTT was already signed on 25 November 2021. Further developments will be reported as they occur.

United Arab Emirates – Congo Double Tax Treaty enters into force

According to an updated overview of August 2023, published by the UAE Ministry of Finance, the UAE – Congo DTT entered into force on 24 January 2023. The DTT generally applies from 1 January 2024 for withholding and other taxes. Further developments will be reported as they occur.

Conclusion

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