Saudi Arabia and Serbia finalized negotiations by initiating an income tax treaty on 8 February 2024.
A tax treaty is a bilateral agreement between two countries aimed at addressing double taxation on both passive and active income for their respective citizens. These treaties typically define the extent to which each country can tax a taxpayer’s income, capital, estate, or wealth. An income tax treaty is also known as a Double Tax Agreement (DTA).
The treaty will be the first between the two countries and will require signing and ratification before it can take effect.
