With effect from this past Monday, 6th February 2018, the Agreement between Spain and Qatar has entered into force to avoid double taxation and prevent tax evasion in the matter of income taxes and its Protocol (DTT). According to the Spanish Tax Administration, the new Double Tax Treaty will serve to favour the economic exchanges between both countries, in particular from the perspective of the investment.
The treaty follows the standard of the Organisation for Economic Co-operation and Development (OECD) Model Tax Convention. In Spain it will be applicable to Personal Income Tax, Corporate Income Tax, Non-Resident Income Tax and municipal income taxes, not applying therefore to the Wealth Tax. In Qatar it will apply to income taxes. The DTT also includes a provision that will allow a broad tax information exchange, including bank account information, between Qatar and Spain.Read full content