Egypt – In a significant move for international economic cooperation, President Abdel Fattah El Sisi has issued Decree No. 254 of 2023, officially approving a Double Taxation Avoidance Agreement (DTAA) with Qatar. The agreement focuses on mitigating double taxation on income and enhancing measures to prevent tax evasion.

This milestone agreement solidifies the commitment of Egypt and Qatar to strengthen their economic ties and foster a business-friendly environment by ensuring that individuals and companies are not subjected to double taxation on their income in both nations. It also aims to combat tax evasion effectively, promoting transparency and fairness in tax matters.

The DTAA will provide clarity and certainty to businesses and investors operating in both Egypt and Qatar, reducing the tax burden and facilitating cross-border trade and investment. With this agreement, both nations take a significant step towards bolstering economic relations and promoting international cooperation in tax matters.

This development is expected to have a positive impact on businesses, investors, and individuals engaged in commercial and financial activities between Egypt and Qatar, ultimately supporting economic growth and stability in the region.

As the agreement takes effect, Egypt and Qatar anticipate increased cross-border investment and trade, solidifying their positions as prominent players in the global economic landscape.

For further information, please contact Alex Saleh (alex.saleh@glaco.com) and Yousef Al Amly (y.alamly@glaco.com).