UK-Qatar Tax agreement
A new Double Taxation agreement between the UK and Qatar was signed in London by the Financial Secretary to the Treasury and Qatar’s Minister of Economy and Finance.
The new agreement follows the model approach set out in the OECD’s Model Double Taxation Convention. It seeks to avoid double taxation in relation to income tax, corporation tax and capital gains tax in the UK and the taxes on income in Qatar – referred to in the Convention as Qatari tax. Important features of the agreement include the exchange of information and zero rate withholding tax on most dividends and interest payments.
The protocol will take force once both countries have finalised the legislative procedures. The provisions will then take effect from the next calendar year.