Sunday, September 27

Malaysia, Qatar ink pact on double taxation avoidance

0

KUALA LUMPUR:Malaysia and Qatar have signed the protocol amending the agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (DTAA Malaysia-Qatar).

The revised agreement was in line with the commitment made by Malaysia and Qatar to the internationally agreed tax standards in relation to the exchange of information.

In a statement yesterday, the Ministry of Finance said both countries had agreed to update Article 27 (Exchange of Information) in the existing DTAA Malaysia-Qatar.

“This protocol of amending DTAA Malaysia-Qatar is the seventeenth agreement where Malaysia has included the above said article which enabled effective exchange of information,” the ministry said.

Treasury Secretary-General Tan Sri Dr Wan Abdul Aziz Wan Abdullah and Qatar Economy and Finance Ministry, Public Revenue and Taxes Department Director, Moftah Jassim Al-Moftah inked the pact in Kuala Lumpur.

Qatar is Malaysia’s 68th treaty partner in the field of taxation and the 20th state among the Organisation of the Islamic Conference (OIC)’s member countries that have signed such DTAAs with Malaysia.

Currently, Malaysia has signed 73 DTAAs with other countries comprising of 24 OIC member countries. — Bernama