The Agreement on the Avoidance of Double Taxation between the Government of the Republic of Croatia and the Government of the Kingdom of Saudi Arabia was signed on Wednesday in Riyadh, the Ministry of Finance reported.
The agreement on ‘the avoidance of double taxation on income and property taxes and the prevention of tax evasion and avoidance’ was signed by the Deputy Prime Minister and Minister of Finance Marko Primorac and the Minister of Finance of the Kingdom of Saudi Arabia Mohammed Al Jadaan.
By signing the agreement, the two countries have made a significant step towards strengthening economic and financial relations. The agreement will provide a legal framework for avoiding double taxation, thereby facilitating the operations of Croatian and Saudi companies and enabling more favorable conditions for the exchange of goods, services, and investments, as stated in the announcement.
Primorac stated that the implementation of the agreement will bring a range of benefits, including the improvement of the business environment and the strengthening of bilateral cooperation in the area of tax policies. He also believes that the agreement will significantly contribute to stimulating economic activities and opening new business opportunities for entrepreneurs from both countries. In addition to cooperation in tax policies, Primorac discussed with his Saudi counterpart the deepening of cooperation in finance and investments.
