Qatar And Bulgaria Sign DTA

by Ulrika Lomas, Tax-News.com, Brussels

30 March 2010

A convention for the avoidance of double taxation and fiscal evasion was signed between Bulgaria and Qatar last week, during an official visit to Qatar by Bulgaria’s Prime Minister, Boyko Borisov.

The agreement, signed along with a Memorandum of Understanding in the Energy Sector, will significantly bolster bilateral economies ties. The double tax convention will establish the taxing rights of the two nations on business and individuals with economic operations in the respective countries, providing legal certainty on the tax treatment of bilateral investments and trade.

After the signing, Borisov said that the signing was proof of the strong cooperation between the two nations, and called on entrepreneurs to investigate bilateral ventures between in Qatar, and vice versa.

During the his visit, which concluded on March 24, Borisov discussed with his Qatari counterpart, Hamad Bin Jassim Bin Jabr Al-Thani, the initiation of feasibility studies to begin five joint infrastructure projects. According to Bulgarian newspaper, Novinvite, airport projects, the construction of the second Danube crossing, and the supply of liquefied gas from Qatar, were to be discussed during the meeting between the two leaders.

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