Saudi Arabia Tax News
Details of the first-time income and capital tax treaty between Austria and Saudi Arabia, signed on 18 March 2006, have become available. The treaty was concluded in the German, English and Arabian languages, each text having equal authenticity. In the case of divergence, however, the English text prevails. The treaty generally follows the OECD Model Convention.
Treaty between Saudi Arabia and Turkey signed
Treaty between United Kingdom and Saudi Arabia signed
Treaty between Spain and Saudi Arabia – details
Treaty between Austria and Saudi Arabia enters into force
Treaty between Spain and Saudi Arabia signed
Treaty between Saudi Arabia and South Africa signed
Treaty between Korea (Rep.) and Saudi Arabia signed
Treaty between Malaysia and Saudi Arabia – details
Treaty between Saudi Arabia and Italy to be signed
Treaty negotiations between Saudi Arabia and Italy
Treaty between Austria and Saudi Arabia signed
Treaty negotiations between Saudi Arabia and Russia
Treaty between Saudi Arabia and Malaysia signed
It has been reported that Kuwait and Saudi Arabia, which are respectively negotiating tax treaties with India, are seeking to have capital gains arising from the sale/transfer of moveable property taxed in the state of residence. This request for residence-based taxation for these capital gains appears to stem from the Comprehensive Economic Cooperation Agreement (CEPA) between India and Singapore that was signed on 29 June 2005. The CEPA includes a protocol to the existing India-Singapore tax treaty, whereby Article 13 was amended to provide that capital gains on sale of shares derived by a resident of one of the states will only be taxable in the resident country. Accordingly, capital gains arising to a Singaporean resident on sale of shares in Indian companies would not be liable to tax in India.
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