On 17 July 2018, the Saudi Cabinet authorized the Ministry of Finance to sign the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). Saudi Arabia must sign the MLI and deposit its ratification instruments in order for the MLI to enter into force. The MLI will then generally apply for Saudi Arabia's notified covered agreements (tax treaties), provided that a particular agreement has also been notified as covered by the respective counterparty, and such coun…