The State of Qatar and the People's Republic of China have signed a treaty amending the agreement between the two countries to prevent double taxation and avoid financial exclusion in income taxes.
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The agreement was concluded on March 10 at the headquarters of the General Tax Authority in Doha.
On behalf of Qatar, HE Ahmed bin Issa Al Mohannadi, President of the General Tax Authority, approved the amending agreement. On behalf of the People's Republic of China, H E Zhou Jian, Ambassador of the People's Republic of China to the Nation of Qatar, signed the protocol.
Qatar Airways Group Chief Executive, HE Akbar Al Baker, was present at the signing ceremony.
Based on a leading daily, Ahmed bin Issa Al Mohannadi stated that "The signed protocol amending the agreement to avoid double taxation and prevent fiscal evasion with the People's Republic of China would strengthen the countries' existing economic relations. The People's Republic of China is one of Qatar's most important trade partners. The cooperation between the two countries' tax authorities will positively affect several trades and investment aspects between the two nations."
He also said, "The amending protocol aims to grant Qatar Airways tax exemptions on air freight and 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."
Zhou Jian stated: "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."
"It will also 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," he added.
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