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Austria and Qatar signs up on dual taxation pact

Steuern
22. March 2011

In the light of the FIFA World Cup to held in 2022 in Qatar, Austria is also keen to consolidate its position in the country’s booming downstream steel, aluminum and petrochemicals sectors. Keeping all these factors in mind Qatar and Austria have signed an agreement on double taxation and air transport. The Austrian Trade Commission gives the details.

Austria and Qatar’s trade relations have intensified rapidly over the last few years. The testimony to this fact is the opening of Austria’s trade office in 2009. In the light of the FIFA World Cup to held in 2022 in Qatar, the central European country is also keen to consolidate its position in the country’s booming downstream steel, aluminum and petrochemicals sectors. Keeping all these factors in mind, the recent visit of Qatar’s emir has taken the trade relations between the two countries to the next level.
During the Emir of Qatar, Shaikh Hamad Bin Khalifa Al Thani’s three day visit to Vienna this year Qatar and Austria have signed an agreement on double taxation and air transport
The emir held talks with Austrian President Heinz Fischer, emphasising the "excellent relations" between the two countries and the aim to improve relations even more in the future, according to a spokesperson in the president's office.
Until now, there were no tax regulations between the two countries, said Austrian State Secretary of Finance Andreas Schieder. He said the agreement was "an important [one] in the light of planned Austrian investments in the FIFA World Cup to be held in 2022 in Qatar.
"People involved in the talks said that Qatar is also seeking Austrian know-how in tourism on how to manage tourism facilities during the event. The tax agreement ensures that income and capital are not taxed twice. The agreement on air traffic provides the basis for future negotiations on, among other things, the number of flights between the two countries, the president's office said.
A delegation of businessmen from Qatar also met representatives of the Austrian Chamber of Commerce for talks on how to strengthen the economic relationships between the two countries.
"The numerous infrastructure projects in Qatar can be seen as very promising opportunities for Austrian companies," said Christoph Leitl, president of the Austrian Chamber of Commerce.
He said he was expecting "impulses" for the construction industry and for building suppliers, in the sectors of energy, environment and railway infrastructure, as more than 30 per cent of Qatar's budget has been allocated to infrastructure projects.
According to statistics from the Austrian Chamber of Commerce, obtained by Gulf News, Austrian exports to Qatar fell 33.7 per cent to ¤84.7 million (Dh416.56 million) in 2009, after exports rose by a record 70 per cent in 2008 to ¤127.8 million. In the first half of 2010, Austrian exports to Qatar were valued at ¤30 million.
(Courtesy gulf news)

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