the Advantages of the UAE-Kuwait Agreement to Eliminate Double Taxation
Dr. Anwar Ali Al-Mudhaf highlighted the significance of a newly signed agreement with the UAE aimed at eliminating double taxation on income and capital and combating tax evasion.
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The Kuwait’s Minister of Finance and Minister of State for Economic Affairs and Investments presented the key points of the agreement. This settlement, finalized after in-depth discussions, emphasizes the solid relationship between the UAE and Kuwait.
He also noted that this pact is a step forward towards economic and financial unity and the unrestricted flow of capital between the two countries, and it’s expected to boost economic integration and to benefit both countries’ citizens and investors.
Dr. Al-Mudhaf also stressed on the World Governments Summit’s role in addressing future prospects and the global challenges that lie ahead, indicating Kuwait’s participation as a testament to the solid and brotherly ties with the UAE.
Moreover, he highlighted that the attendance of over 25 heads of state and government, 140 government delegations, and more than 85 international and regional organizations at the summit underlines the UAE’s prominent position on the global stage and its importance from economic and political viewpoints.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Employment grew for the 16th consecutive month as companies expanded.
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According to a recent PMI report, Qatar experienced its fastest non-energy sector growth in almost two years in June, driven by surges in both existing and new business activities.
The Purchasing Managers’ Index (PMI) headline figure for Qatar reached 55.9 in June, up from 53.6 in May, with anything above 50.0 indicating growth in business activity. Employment also grew for the 16th month in a row, and the country’s 12-month outlook remained robust.
The inflationary pressures were muted, with input prices rising only slightly since May, while prices charged for goods and services fell, according to the Qatar Financial Centre (QFC) report.
This headline figure marked the strongest improvement in business conditions in the non-energy private sector since July 2022 and was above the long-term trend.
The report noted that new incoming work expanded at the fastest rate in 13 months, with significant growth in manufacturing and construction and sharp growth in other sectors. Despite the rising demand for goods and services, companies managed to further reduce the volume of outstanding work in June.
Companies attributed positive forecasts to new branch openings, acquiring new customers, and marketing campaigns. Prices for goods and services fell for the sixth time in the past eight months as firms offered discounts to boost competitiveness and attract new customers.
Qatari financial services companies also recorded further strengthening in growth, with the Financial Services Business Activity and New Business Indexes reaching 13- and nine-month highs of 61.1 and 59.2, respectively. These levels were above the long-term trend since 2017.
Yousuf Mohamed Al-Jaida, QFC CEO, said the June PMI index was higher than in all pre-pandemic months except for October 2017, which was 56.3. “Growth has now accelerated five times in the first half of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023,” he said.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
