Kuwaiti Deputy Prime Minister and Finance Minister Anas Al-Saleh affirmed on Wednesday significance of a freshly inked protocol on amending the double taxation agreement between Kuwait and Turkey for boosting further the bilateral relations.
Speaking at a ceremony marking the inking of six accords, Minister Al-Saleh affirmed Kuwait's abidance by measures governing tax erosion and profit shifting (BEPS) -- which refers to tax planning strategies against exploitation of gaps and mismatches in tax rules.
The new accord, he said, includes a very useful amendment on stock earnings, covering all investments by the Kuwaiti government, where they turn available for benefactors at very low taxes.
On swapping tax information, the minister noted that the two sides agreed on adoption of the CRS system, adding that the two sides developed the agreement on settling tax disputes where the tax payer will be entitled to present his (her) case in front of the two countries' tax authorities. Earlier today, Kuwait and Turkey signed six accords to develop relations on all possible domains during the official rounds of talks chaired by His Highness the Prime Minister of Kuwait Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah and Turkish Prime Minister Binali Yildirim.
A protocol to enhance a previous agreement on averting double taxation was signed by minister Al-Saleh and his Turkish counterpart Naci Agbal.
rs.rk
Speaking at a ceremony marking the inking of six accords, Minister Al-Saleh affirmed Kuwait's abidance by measures governing tax erosion and profit shifting (BEPS) -- which refers to tax planning strategies against exploitation of gaps and mismatches in tax rules.
The new accord, he said, includes a very useful amendment on stock earnings, covering all investments by the Kuwaiti government, where they turn available for benefactors at very low taxes.
On swapping tax information, the minister noted that the two sides agreed on adoption of the CRS system, adding that the two sides developed the agreement on settling tax disputes where the tax payer will be entitled to present his (her) case in front of the two countries' tax authorities. Earlier today, Kuwait and Turkey signed six accords to develop relations on all possible domains during the official rounds of talks chaired by His Highness the Prime Minister of Kuwait Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah and Turkish Prime Minister Binali Yildirim.
A protocol to enhance a previous agreement on averting double taxation was signed by minister Al-Saleh and his Turkish counterpart Naci Agbal.
rs.rk
All KUNA right are reserved 2017. Provided by SyndiGate Media Inc. (Syndigate.info).
