Saudi Arabia Tax Update

Analysis

Slim Gargouri provides on update on tax developments in Saudi Arabia

Signature of the tax treaty between Poland and Saudi Arabia

On 22 February 2011, The Kingdom of Saudi Arabia Saudi Arabia and the Republic of Poland signed a tax treaty in Riyadh.

Signature of the Protocol amending the tax treaty between France and Saudi Arabia

On 18 February 2011, Christine Lagarde, the French Finance Minister, and Mr Ibrahim Abdulaziz Al-Assaf, the Finance Minister of Saudi Arabia, signed an amending protocol to the tax treaty between France and Saudi Arabia, initially signed in February 1982 and amended several times.

The amendment consists in including new dispositions relating to the exchange of tax information in accordance with the OECD standard, including the lifting of bank confidentiality.