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Saudi Arabia, Kuwait ink agreement to avoid double taxation, boost investment cooperation
(MENAFN) Saudi Arabia and Kuwait have signed a new agreement aimed at avoiding double taxation and strengthening investment cooperation, according to a recent press release.
The deal was signed by Saudi Minister of Finance Mohammad Al Jadaan and Kuwaiti Finance Minister Nora Al Fassam during the third edition of the Zakat, Tax, and Customs conference in Riyadh.
The agreement seeks to encourage investments by simplifying tax processes and providing equal opportunities for investors from both countries.
Al Jadaan emphasized that the conference plays a key role in enhancing international cooperation to tackle tax and customs challenges, while also supporting economic growth and facilitating the exchange of expertise.
He further highlighted Saudi Arabia's progress in achieving the objectives of Saudi Vision 2030, with the Zakat, Tax, and Customs Authority (ZATCA) playing a crucial role in reaching these goals.
The authority has earned a 99.35 percent score in the United Nations Digital Government Index, reflecting its advancements in digital services and the successful implementation of over 350 requirements set by the index.
The deal was signed by Saudi Minister of Finance Mohammad Al Jadaan and Kuwaiti Finance Minister Nora Al Fassam during the third edition of the Zakat, Tax, and Customs conference in Riyadh.
The agreement seeks to encourage investments by simplifying tax processes and providing equal opportunities for investors from both countries.
Al Jadaan emphasized that the conference plays a key role in enhancing international cooperation to tackle tax and customs challenges, while also supporting economic growth and facilitating the exchange of expertise.
He further highlighted Saudi Arabia's progress in achieving the objectives of Saudi Vision 2030, with the Zakat, Tax, and Customs Authority (ZATCA) playing a crucial role in reaching these goals.
The authority has earned a 99.35 percent score in the United Nations Digital Government Index, reflecting its advancements in digital services and the successful implementation of over 350 requirements set by the index.
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