Under the patronage of His Majesty King Hamad bin Isa Al Khalifa and President Xi Jinping of the Republic of China, on Monday in Beijing, a Protocol between the Government of the People’s Republic of China and the Government of the Kingdom of Bahrain was signed on amending the Agreement on the Non double taxation and prevention of tax evasion.
Minister of Finance Shaikh Ahmed bin Mohammed Al Khalifa and President of the Chinese National Administration of Taxation Affairs, Wang Fei, signed the Protocol.
This Protocol is an integral part of the Agreement on the avoidance of double taxation and prevention of taxes evasion on income between the government of the Kingdom of Bahrain and the government of the People’s Republic of China signed in Beijing on 16 May 2002.
In accordance with this Protocol, the competent tax authorities of the contracting parties shall provide assistance through exchange of information related to the management and implementation of national laws of the contracting parties with regard to taxes involved in these agreements.
This Protocol is a step in the support and development of economic and investment cooperation between the two countries, it also comes in the context of the pursuance of the government of the Kingdom of Bahrain to provide a favorable economic environment that encourages joint investments between the Kingdom of Bahrain and the countries of the world.