Kuwait’s Ministry of Foreign Affairs announced that officials from Kuwait and San Marino signed an income and capital tax treaty on 27 September 2024.
HE Abdullah Ali Al-Yahya, Minister of Foreign Affairs of Kuwait, met with HE Luca Beccari, Minister of Foreign Affairs of the friendly Republic of San Marino, on the sidelines of the High-Level Week of the 79th session of the United Nations General Assembly in New York City, where the two sides discussed ways to enhance bilateral relations between the two friendly countries in various fields, in addition to discussing the latest developments on the regional and international arenas, and issues of common interest.
Following the meeting, a number of memoranda of understanding and agreements were signed to enhance, strengthen and consolidate bilateral relations, namely an agreement between the Government of the State of Kuwait and the Government of the Republic of San Marino to encourage and protect mutual investments, and an agreement between the Government of the State of Kuwait and the Government of the Republic of San Marino to avoid double taxation and prevent financial evasion with regard to taxes on income and capital and to prevent tax evasion and avoidance.
This treaty marks the first of its kind between the two nations and will take effect after the exchange of ratification instruments.
