Sisi approves Egypt-Kuwait agreement on preventing double taxation

Egyptian President Abdel Fattah al-Sisi has approved Thursday an agreement on the avoidance of double taxation with Kuwait.

Egypt and Kuwait signed on April 16th, 2014 an agreement, which includes tax exemptions and breaks on investments and businesses whether in Kuwait or Egypt, besides doing away with financial obstacles that may restrict the movement of trade through avoiding double taxation on money or individuals. The agreement stipulates in an item titled “income tax on immovable property-returns” on subjecting such incomes to tax only in the country where the funds are found.