VIENNA, June 17 (KUNA) — Kuwait and Austria have signed an updated protocol to amend the Double Taxation Avoidance Agreement (DTAA), aiming to prevent tax evasion. Kuwait’s Ambassador to Austria, Talal Al-Fassam, and Austria’s State Secretary at the Ministry of Finance, Barbara Ebinger-Miedl, signed the agreement. Ambassador Al-Fassam stated that the protocol enhances financial transparency through improved exchange of tax information, marking a significant step in financial and economic cooperation between the two nations. He emphasized that this aligns with both countries’ efforts to modernize their tax systems according to international standards. The agreement also facilitates capital flow, boosts investment, and provides legal protection for investors, strengthening economic trade relations. Suhail Al-Zanki and Ali Behbehani, representatives from Kuwait, were present at the signing.
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