Kuwait and the UAE signed an agreement on Sunday to prevent double taxation on income and capital taxes, crucial for combating tax evasion and avoidance, according to Kuwait’s Finance Minister, Dr. Anwar Ali Al Mudhaf. Speaking at the Arab Fiscal Forum during the World Governments Summit pre-summit day, he highlighted the significance of the agreement, emphasizing its completion after thorough discussions to underscore the strong relations between the two countries.
He highlighted that the agreement is integral to the economic and financial integration and the free flow of capital between the UAE and Kuwait. Additionally, he stated that it is anticipated to bolster economic integration and bring positive outcomes for citizens and investors in both nations.
Dr. Al Mudhaf emphasized the significance of the annual World Governments Summit, which serves as a platform to discuss future opportunities and challenges across various pressing issues. He highlighted Kuwait’s participation in the summit as a testament to the strong and fraternal relations between the UAE and Kuwait.
The Kuwaiti Minister of Finance noted that the summit’s attendance of over 25 heads of state and government, 140 government delegations, and numerous international and regional organizations reflects the UAE’s elevated standing and strategic importance on the global stage, both economically and politically.
