The Saudi Arabian Council of Ministers authorized the Ministry of Finance officials to sign a draft income and capital tax treaty with the UAE.
In view of the fact that currently there is no double-tax avoidance treaty between any GCC states, this appears to be an initiative towards furthering the tax cooperation stance within the Gulf countries. Much still needs to be achieved in terms of finalizing, executing and ratifying the tax treaty, in order to bring it in to force in respective tax jurisdictions.
We will inform you of further developments on the treaty as they occur.
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