Over the last six to 12 months, Saudi Arabia has expanded its tax treaties network through negotiations with several countries to conclude agreements aimed at preventing double taxation. These treaties are expected to boost investment in the Kingdom and the counterparties as well. These agreements would also enlarge commercial and financial transactions between these countries.

Overview

On 13 May 2014, Saudi Arabia's Finance Minister, Ibrahim Abd al-Aziz al-Assaf signed income tax treaties with Azerbaijan (represented by Foreign Affairs Minister, Elmar Mammadyarov) and Tajikistan (represented by its Finance Minister, Abdusalom Qurbonov).

On 20 April 2014, Egypt's Finance Ministry announced negotiations between Egypt and Saudi Arabia for an income tax treaty and a customs cooperation agreement between both countries had been concluded.

On 31 March 2014, Saudi Arabia's Cabinet approved income tax treaties with Luxembourg and Ethiopia.

On 24 March 2014, Saudi Arabia's Cabinet authorised the Finance Ministry to sign draft income tax treaties with Kosovo and Venezuela.