A ceremony to sign the agreement took place on Sunday 6 May in Qatar between Eddie Teare MHK, the Isle of Man’s treasury minister, and Moftah Jassim Al Moftah, Qatar’s director of public revenues and taxes.
“I was delighted to be invited to Qatar for the signing of this, the Isle of Man’s 30th agreement which meets the OECD international tax standard on transparency and effective exchange of information,” said Teare.
“This agreement represents the start of a new phase in relations between Qatar and the Isle of Man and I expect it to lead to the development of new business and investment opportunities for both countries.”
The Isle of Man said its department of economic development already has plans for a high level delegation to visit Qatar to follow up on the opportunities the DTA creates.
The DTA will comprehensively address taxation issues arising in relation to the flow of business and any movement of people between the Isle of Man and Qatar, and closely follows the model text published by the OECD.
