Qatar and China have signed the protocol amending the agreement for the avoidance of double taxation and preventing financial evasions concerning income taxes.
The agreement that focuses on lifting tax restrictions on air cargo and passenger transport activities was signed at the General Tax Authority's headquarters in Doha recently.
The agreement that focuses on lifting tax restrictions on air cargo and passenger transport activities was signed at the General Tax Authority's headquarters in Doha recently.
The amending protocol was signed on behalf of Qatar by Ahmed bin Issa al-Mohannadi, president, GTA, and on behalf of China by the country’s ambassador Zhou Jian. The signing ceremony was attended by HE Akbar al-Baker, Qatar Airways group chief executive.
Al-Mohannadi said, "The signed protocol amending the agreement to avoid double taxation and prevent fiscal evasion with the People's Republic of China would strengthen the existing economic relations between the two countries. China is one of the most important trade partners of the State of Qatar. The co-operation between the two countries' tax authorities will have positive effects on several trade and investment aspects between the two nations.
“The amending protocol aims to grant Qatar Airways tax exemptions on air freight, passenger transport. It also aims to strengthen efforts regarding double taxation between the two countries' governments, encouraging trade exchange, increasing capital movement, enhancing investment opportunities, and strengthen economic relations between the two countries.”
Jian said, “I am delighted to sign the protocol on behalf of the Chinese Government, which is good news for enterprises from both countries and will help create a better business environment for them and provide in particular stronger momentum for Qatari companies, including Qatar Airways, to expand their investments and operations in China.”
“Since last year, despite the impact of the Covid-19 pandemic, China-Qatar economic and trade cooperation has kept growing, and China became for the first time Qatar's largest trading partner in 2020, which highlights the resilience and vitality of the bilateral pragmatic cooperation.
“Currently, China is implementing its 14th Five-Year Plan, and setting out its long-range development objectives through the year 2035, in order to foster a new development pattern centring on domestic circulation with domestic and international markets promoting each other, thus fully enhancing domestic consumption and expanding China’s opening up to a higher level.
“Obviously, China's huge market of 1.4bn populations and its corresponding consumption potential will provide a new strategic opportunity for our pragmatic cooperation. I am fully optimistic and confident in this”.
Al-Baker said, “We are pleased that the tax authorities of both Qatar and China have signed a new bilateral agreement. China is an important and significant player in the economic world, and this co-operation will further strengthen the warm and strong relations between our two countries.
“Qatar Airways has demonstrated its continued commitment to China, and looks forward to further developing its presence in the Chinese market as Covid-19 restrictions ease.”
Qatar has signed several agreements to avoid double taxation and prevent fiscal evasion with other friendly countries.
Qatar is currently holding several discussions with other countries to sign similar agreements in this field to promote investments in the country.
Al-Mohannadi said, "The signed protocol amending the agreement to avoid double taxation and prevent fiscal evasion with the People's Republic of China would strengthen the existing economic relations between the two countries. China is one of the most important trade partners of the State of Qatar. The co-operation between the two countries' tax authorities will have positive effects on several trade and investment aspects between the two nations.
“The amending protocol aims to grant Qatar Airways tax exemptions on air freight, passenger transport. It also aims to strengthen efforts regarding double taxation between the two countries' governments, encouraging trade exchange, increasing capital movement, enhancing investment opportunities, and strengthen economic relations between the two countries.”
Jian said, “I am delighted to sign the protocol on behalf of the Chinese Government, which is good news for enterprises from both countries and will help create a better business environment for them and provide in particular stronger momentum for Qatari companies, including Qatar Airways, to expand their investments and operations in China.”
“Since last year, despite the impact of the Covid-19 pandemic, China-Qatar economic and trade cooperation has kept growing, and China became for the first time Qatar's largest trading partner in 2020, which highlights the resilience and vitality of the bilateral pragmatic cooperation.
“Currently, China is implementing its 14th Five-Year Plan, and setting out its long-range development objectives through the year 2035, in order to foster a new development pattern centring on domestic circulation with domestic and international markets promoting each other, thus fully enhancing domestic consumption and expanding China’s opening up to a higher level.
“Obviously, China's huge market of 1.4bn populations and its corresponding consumption potential will provide a new strategic opportunity for our pragmatic cooperation. I am fully optimistic and confident in this”.
Al-Baker said, “We are pleased that the tax authorities of both Qatar and China have signed a new bilateral agreement. China is an important and significant player in the economic world, and this co-operation will further strengthen the warm and strong relations between our two countries.
“Qatar Airways has demonstrated its continued commitment to China, and looks forward to further developing its presence in the Chinese market as Covid-19 restrictions ease.”
Qatar has signed several agreements to avoid double taxation and prevent fiscal evasion with other friendly countries.
Qatar is currently holding several discussions with other countries to sign similar agreements in this field to promote investments in the country.
