Tax treaty between Greece & Saudi Arabia: Effective from January 2011

Signed in Athens on 19 June 2008 and entered into force on 1 May 2010, the tax treaty between Greece & Saudi Arabia is effective from 1 January 2011.

The main provisions of the treaty are as follows:

Permanent establishment

The term ‘permanent establishment' means a fixed place of business through which the business of an enterprise is wholly or partly carried on.

The term ‘permanent establishment' also includes:

• A building site, a construction, assembly or installation project, or supervisory activities, in connection therewith, but only where such site, project or activities continue for a period more than 6 months

• The furnishing of services, including consultancy services, by an enterprise through employees or other personnel engaged by the enterprise for such purpose, but only where activities of that nature continue (for the same or a connected project) within a Contracting State for a period or periods aggregating more than 6 months within any 12-month period.

Dividends