Kuwait and Egypt Plan Non-Double Taxation Agreement

Kuwait and Egypt are projecting to conclude a non-double taxation agreement to increase economic cooperation and boost joint investments, reports the Kuwaiti news agency (KUNA).

A Kuwaiti financial official, currently on a three-day visit to Cairo at the head of a delegation from the finance ministry, told KUNA his visit will focus on the holding of the first round of talks with Egyptian ministry of finance officials over averting dual taxation.

The assistant undersecretary for financial affairs at the ministry of finance, Fawzi Al-Qassar will review with Egyptian officials issues related to taxation, profit shares, bank interest and other commercial issues. The visit is pursuant to recommendations adopted by the 3rd session of the joint Egyptian-Kuwaiti higher committee held in Kuwait last April.

The Kuwaiti official said if an agreement is reached between both sides at the end of the first round of talks due to conclude on Wednesday, then there will be a signing of first initials. He added the final signing would take place during the upcoming meeting of the joint higher Egyptian-Kuwaiti committee due to take place in March.