Iran and Saudi Arabia have successfully concluded their fourth round of negotiations for an income tax treaty, which took place from 12 to 14 July, 2024.
This agreement aims to eliminate double taxation and enhance economic cooperation, providing a framework that will facilitate trade and investment between Iran and Saudi Arabia.
A tax treaty, or Double Tax Agreement (DTA), is a bilateral agreement between two countries aimed at resolving issues related to the double taxation of passive and active income for their respective citizens. These treaties typically specify the amount of tax that each country can impose on a taxpayer’s income, capital, estate, or wealth.
