The Isle of Man government has announced the signing of a
comprehensive double taxation agreement (DTA) with Qatar.
The agreement was signed in Qatar on 6 May 2012 by the Isle of Man
Treasury Minister, Eddie Teare and by Mr Moftah Jassim Al Moftah,
Qatar's Director of Public Revenues and Taxes.
The DTA signed with Qatar is the Isle of Man's 5th dedicated
DTA and the 30th agreement that meets the OECD international
standard on tax cooperation and transparency.
Welcoming the signing, Minister Teare said: "I was delighted
to be invited to Qatar for the signing of this, the Isle of
Man's 30th agreement which meets the OECD international tax
standard on transparency and effective exchange of information.
This agreement represents the start of a new phase in relations
between Qatar and the Isle of Man and I expect it to lead to the
development of new business and investment opportunities for both
countries."
The Department of Economic Development already has plans for a
high level delegation to visit Qatar to follow up on the
opportunities the DTA creates.
The DTA will comprehensively address taxation issues arising in
relation to the flow of business and any movement of people between
the Isle of Man and Qatar, and closely follows the model text
published by the OECD.
The text of the agreement can be viewed here.
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