KUWAIT – Kuwait and Slovakia have signed an agreement on averting double taxation and preventing evasion of financial dues, Kuwait Ministry of Finance declared Wednesday. The ministry, officials of which have recently signed the agreement in Slovakia, said in a statement that it was aimed at removing “financial barriers that may impede movement of capitals and commercial exchanges” between the two countries, as well as averting double taxation on individuals and funds. Kuwaiti government investments, government authorities, private enterprises and individuals, according to the deal, are exempted from taxes on shares' dividends. Tariffs in the two countries will stand at 10 percent of the overall interest value. A 10 percent fee will be levied for literary, technical and operational rights, including patents of inventions, trademarks and designs. Some terms of the accord address the basis of cancelling double taxation, procedures of concord and information exchange. — KUNA
