Egypt Approves Agreement to Eliminate Double Taxation with Qatar

The Egyptian Cabinet, in its weekly meeting chaired by Mostafa Madbouly, approved a draft Presidential decision regarding an agreement to eliminate double taxation with regard to taxes on income, to help prevent and avoid tax evasion between the government and Qatar.

The agreement aims to eliminate double taxation with regard to the taxes, and applies to persons residing in one or both countries, and it also applies to a collective investment institutions established in one of the two countries, which obtains income that originates in the other.

This agreement applies to income taxes imposed by one of the two countries or one of its political divisions or local authorities, which is represented in all taxes imposed on the total income or on one of the elements of income, including taxes on profits resulting from the disposal of movable or immovable funds, as well as taxes on the total wages and salaries paid by enterprises.

The agreement indicated the taxes that will be applied to in Egypt, which includes the tax on the income of natural persons, and this includes income generated from each of salaries, wages, commercial & industrial activity, professional or non-commercial activity, real estate wealth, tax on the profits, and taxes on the total wages and salaries paid by enterprises.

The application of the agreement in Qatar on income tax and corporate tax includes the “Qatari tax”.

The application of the provisions of the agreement extends to include any similar taxes imposed by any of the two contracting states after the date of signing the agreement, or replaces the current taxes.