Guernsey has signed a double taxation agreement (DTA) with Qatar.
Gavin St Pier, minister of the treasury and resources department, signed the DTA on behalf of the government of Guernsey during a meeting in London with Moftah Jassim Al Moftah, director of public revenues and taxes department at the ministry of economy and finance, who signed on behalf of Qatar.
Fiona Le Poidevin, chief executive of Guernsey Finance, said: “Signing a DTA with Qatar is another important step in diversifying the business base of Guernsey’s finance industry. We have been actively promoting Guernsey’s financial services offering within the Middle East for several years and more recently a number of the island’s firms have established offices in the region.”
“The DTA between Guernsey and Qatar deepens the relationship and it also offers significant potential for expanding financial services business. It provides clarity and certainty on matters of taxation, which makes it more attractive to conduct business between the two jurisdictions.”
Guernsey has now signed 17 DTAs, comprising 11 partial DTAs and six full DTAs. The island has also signed 40 tax information exchange agreements (TIEAs).
In February this year, Guernsey signed a DTA with Singapore and TIEAs with both Brazil and Mauritius.
