KUWAIT: Undersecretary of the Ministry of Finance Asil Al-Munaifi and Jordan’s Ambassador to Kuwait Sinan Al-Majali signed Thursday a protocol amending the convention on the avoidance of double taxation and the prevention of tax evasion between the two countries. In a press statement, the Ministry of Finance said the protocol aims to strengthen tax cooperation, prevent double taxation, combat tax evasion, encourage investment, and facilitate the flow of capital. It also seeks to enhance transparency in financial transactions through more efficient exchange of tax information.
The ministry added that the protocol will bolster economic relations between Kuwait and Jordan by simplifying tax procedures and providing greater legal protection for investors, contributing to a stable and attractive tax environment. It is also part of efforts to align with global taxation developments and requirements, modernize tax systems according to international standards, and ensure effective tax compliance. — KUNA
