Doha - In a significant step toward enhancing bilateral economic relations, Qatar and Uruguay signed a comprehensive agreement aimed at avoiding double taxation on income and preventing tax evasion and avoidance. The agreement reflects both nations’ commitment to deepening financial cooperation, facilitating cross-border investments, and fostering long-term economicpartnerships.

The agreement was signed in Doha by Minister of Finance HE Ali bin Ahmed Al Kuwari and Minister of Foreign Affairs of the Republic of Uruguay HE Mario Lopetegui.

The newly signed accord seeks to eliminate double taxation and remove fiscal barriers that could obstruct the movement of capital between the two countries. By establishing clear tax rules and a stable legal and financial framework, the agreement is expected to enhance trade flows, stimulate foreign direct investment, and create an attractive environment for business cooperation.

Officials from both countries affirmed that the agreement will support the growth of bilateral economic activities, enabling companies and investors to operate with greater clarity, predictability, andfairness.

A key feature of the agreement is its emphasis on transparency and the exchange of verified financial information between the competent authorities of Qatar and Uruguay. This measure aligns with international best practices aimed at combating tax evasion and strengthening governance in cross-border economic dealings.

The agreement ensures that both sides are committed to implementing the highest global standards, thereby reinforcing trust and fostering a secure environment for financial transactions.

The agreement includes a series of technical provisions covering various types of income and economic activities. These regulations apply to sectors such as international transport, joint enterprises, and associated projects. They also govern the taxation of dividends, interest, royalties, and other cross-border payments.

By clarifying these tax-related matters, the agreement is expected to encourage capital mobility, reduce financial burdens on investors, and contribute to economic stability and sustainable growth in both countries.

The signing of this agreement underscores Qatar’s ongoing efforts to modernize its financial and tax systems, attract foreign investment, and expand economic cooperation with friendly nations. It also reflects Uruguay’s interest in building stronger ties with Gulf economies and supporting broader trade and investment initiatives.

With this milestone, Qatar and Uruguay open a new chapter in their bilateral relations—one that promises mutually beneficial opportunities, increased economic exchange, and deeper strategiccooperation.

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