Tax Flash: KSA-UAE Double Tax Treaty

Tax Flash: KSA-UAE Double Tax Treaty

The Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) signed a long awaited Double Tax Treaty (DTT) on 23 May 2018.

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DUBAI

The Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) signed a long awaited Double Tax Treaty (DTT) on 23 May 2018, the first of its kind signed between two Gulf countries. The text of the DTT was published in the official KSA Gazette on 5 March 2019. The ratification process is now complete and the DTT will be applied as of 1 January 2020.

The DTT is largely based on the 2014 Organization for Economic Co-operation and Development (OECD) Model Tax Convention (updated in 2017). Both the UAE and KSA are members of the BEPS inclusive framework and have signed the Multilateral Instrument (MLI) agreement.

This alert discusses several key provisions of the DTT and our perspective on its impact.

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