Iraq and Kuwait sign important agreement



{International: Al Furat News} The Kuwaiti Ministry of Finance announced its signature and its Iraqi counterpart an agreement to avoid double taxation and prevent financial evasion with respect to taxes on income and capital.
The ministry said in a statement that the agreement includes multiple advantages related to exemptions and tax cutson investments or business in Kuwait or Iraq.
She added that the agreement signed by the Kuwaiti side and Undersecretary of the Ministry Saleh al-Sarawi and his Iraqi counterpart Maher Johan aimed at removing the financial obstacles that can restrict the movement of capital and trade between the two countries through the non-duplication of taxes on funds or individuals. "
The agreement was signed on the sidelines of the meetings of the session Seventh session of the Iraqi-Kuwaiti Higher Committee hosted by Kuwait on 11 and 12 May under the chairmanship of Deputy Prime Minister and Foreign Minister Sabah Al-Khalid Al-Hamad Al-Sabah and Foreign Minister Mohammad Al-Hakim.