Kuwait ratified the income and capital tax treaty with Iraq on 18 September 2024. The agreement aims to eliminate double taxation, curb tax evasion, and strengthen economic ties between the two nations.
Article 1 of the agreement specifies that it applies to individuals living in one or both of the contracting states. Article 2 details the particular taxes that are included within the scope of the agreement.
The Iraq parliament approved the ratification of the treaty on 28 October 2020.
The agreement was originally signed on 12 May 2019, and is the first of its kind between the two nations. It will enter into force after the exchange of ratification instruments and apply from 1 January of the year following its entry into force.
