Milestone as parliament approves tax treaty with UAE
TDT | Manama
Email: mail@newsofbahrain.com
A major treaty to end double taxation between Bahrain and the UAE has been approved by Parliament, marking a first with a Gulf neighbour and aiming to attract investment while curbing tax evasion.
The agreement, signed in Dubai on 11 February 2024, introduces a framework for greater tax transparency and cooperation between the two countries.
MP Ahmed Al Salloom, chair of Parliament’s Financial and Economic Affairs Committee, welcomed the move as a practical step towards improving economic ties, particularly by removing hurdles that have long hampered trade and investment.
Benefits
“This arrangement will simplify life for businesses, attract investment, and bring clarity to cross-border transactions,” said Al Salloom, underlining its benefits for Bahrain and the UAE.
The deal aligns Bahrain’s tax policies with international standards and ensures income is not taxed twice, paving the way for smoother operations for businesses and individuals working across both nations.
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