Monday 16 May 2016

The Egyptian government agrees to an agreement to avoid double taxation with Saudi Arabia

Cairo (Ina) and approved by the Egyptian Council of Ministers in its meeting today under thechairmanship of Sharif Ismail, the agreement between the Government of the Arab Republic of Egypt and the Government of the Kingdom of Saudi Arabia, for the avoidance of double taxation and prevention of tax evasion with respect to Taxes on Income, signed in Cairo on 08/04/2016, a measure that comes in the framework of strengthening the cooperation in all fields between Egypt and Saudi Arabia, especially in the economic field. 
deals with taxation agreement on income imposed by the Contracting States to natural persons, and are these taxes with respect to Egypt in the tax on natural persons income, which includes income from salaries and wages, and income from commercial activity, activity industrial, and income from professional activity, commercial Ooger, the output of real estate wealth and income, as well as taxes on the profits of legal persons, withholding tax at source, and additional taxes imposed as a percentage of the taxes referred to Oomufrodh way other. With regard to the Kingdom of Saudi Arabia, are these taxes in zakat, income tax including the natural gas investment tax referred to as "Saudi tax". 
It includes also the tax imposed by the Contracting Parties to the output of the immovable property income state agreement, and commercial and industrial profits, and profits resulting from the operation of ships or aircraft in international traffic, and profits of joint ventures and dividends (income from shares), and returns the resulting (income) from debt securities which are paid to a resident of a Contracting other state, and royalties (payments) resulting from the use Owalhak to use any copyright private Macs literary Ooalphenah Owalalmah and capital gains derived from the disposal of immovable property and income of the independent nature of the other Owalancth professional services, and the income earned by artists and athletes from personal their activities that they practice in the other Contracting State, and pensions and revenue patrol, as well as salaries, wages and other bonuses and similar which are paid by a resident of a Contracting State vs. rendered aresubject to tax only in that State services. on 
the other hand , in the context of the organization of the bilateral relations between Egypt and Saudi Arabia in the field of maritime transport and the development of trade and economic relations between the two, the Egyptian Council of Ministers approved a draft decision of the President of the Republic for approval an agreement in the field of maritime transport and ports between the Governments of the Arab Republic of Egypt and Saudi Arabia, signed in Cairo on 08/04/2016. 
the agreement aims to avoid obstacles that would harm the development of maritime transport between the two countries, and the development of technical and training cooperation and information exchange in the field of transport maritime ports, and tocoordinate the positions of the two countries in international organizations and forums related to maritime transport and ports. 

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