An update from the General Consulate of Kuwait in Hong Kong and Macau on 14 October 2024 confirms that the first round of negotiations for a tax agreement between Kuwait and Macau has occurred in Macau.
A tax treaty is a bilateral agreement between two countries aimed at addressing issues related to the double taxation of both passive and active income earned by their respective citizens. These treaties typically specify the extent of tax a country can impose on an individual’s income, capital, estate, or wealth. An income tax treaty is also referred to as a Double Tax Agreement (DTA).
This would mark the first tax agreement between Kuwait and Macau. It must be negotiated, signed, and ratified by both parties before it can take effect.
