Saudi Arabia and Kuwait Ink Agreement to Avoid Double Taxation

KSA, 10 December, 2024 :  Saudi Arabia and Kuwait have signed an agreement to avoid double taxation and foster investment cooperation. The deal was finalized by Saudi Finance Minister Mohammad Al Jadaan and Kuwaiti Finance Minister Nora Al Fassam during the Zakat, Tax, and Customs conference in Riyadh.

The agreement aims to ease taxation, promote investments, and create equal opportunities for investors. Al Jadaan emphasized the conference's role in boosting international cooperation and addressing tax and customs challenges to support economic growth.

The Zakat, Tax, and Customs Authority (ZATCA) highlighted its progress under Saudi Vision 2030, achieving a 99.35% score in the UN Digital Government Index through enhanced digital services and meeting over 350 international standards. Governor Suhail Abanmi noted the conference’s significance in strengthening global economic growth and tackling economic and security challenges.