With the aim of strengthening economic and financial cooperation and encouraging joint investments, the State of Qatar and the Republic of Uruguay signed a bilateral agreement between their governments regarding the avoidance of double taxation on income and the prevention of tax evasion and avoidance.

The agreement was signed by H.E. Ali bin Ahmed Al Kuwari, Minister of Finance of the State of Qatar, and H.E. Mario Lopetegui, Minister of Foreign Affairs of the Republic of Uruguay.

The agreement seeks to avoid double taxation and remove obstacles that may hinder the movement of capital, thereby enhancing trade exchange and encouraging investment flows between the two countries. It also aims to establish a comprehensive legal framework that provides a fair tax environment, stimulates economic activities, facilitates investment flows, and strengthens opportunities for joint commercial cooperation, while emphasizing both parties’ commitment to applying the highest international standards of transparency through the exchange of verified financial information between the competent authorities of both countries.

The agreement includes several technical provisions related to the regulation of income taxes across various sectors, most notably the international transport sector, as well as the taxation of associated enterprises, dividends, interest, and royalties. These measures are expected to create a favorable investment environment and encourage the flow of capital, contributing to economic stability and sustainable growth.

The signing of this agreement reflects Qatar’s commitment to developing its financial and tax system and enhancing partnerships with friendly countries to support increased trade exchange and expand opportunities for joint investment.