UniCredit Bank Czech Republic and Slovakia, a.s. would like to advise its clients that the new Agreement Between the Government of the Czech Republic and the Government of the State of Qatar for the Elimination of Double Taxation With Respect to Taxes on Income and for the Prevention of Tax Evasion and Avoidance, between the governments of Czech Republic and State of Qatar signed in Doha, Qatar on June 21st, 2022, has already been approved by both chambers of the Parliament and will now go to the President for signature.
As soon as the treaty is published in the Collection of International Treaties, the ratification process in the Czech Republic will be completed. Then it will need to be ratified by Qatar. In case there is bilateral ratification by the end of 2022, the treaty will be effective from January 1, 2023. UniCredit Bank CZ will then release the closing update.
Additional details are available here: https://www.psp.cz/sqw/text/orig2.sqw?idd=213602 (website of the Chamber of Deputies, Parliament of the Czech Republic)
Impact on Clients: Clients need to evaluate any potential impact on their Income processing once the ratification is fully closed.