04/02/2019
Dear/ subscribers of the Chamber
Asharqia Chamber presents you with the best greetings and would like to inform you of the letter of the Council of Saudi Chambers No. (1238) dated (22/5/1440), which referred to the letter of the General Authority for Zakat and Tax No. (6764/198/1440) dated (17/05/1440), which includes reference to the decision of the Council of Ministers No. (601) dated (25/11/1439) that to approve an agreement between the Kingdom of Saudi Arabia and the Republic of Bulgaria to avoid double taxation in respect of taxes on income and to prevent tax evasion (and the protocol) that was signed in Riyadh on 11/3 / 1439 (29/11/2017), and ratified by Royal Decree No. (114) dated (26/11/1439).
It is noteworthy that this Agreement shall enter into force on 25/4 / 1440 (1 January 2019).
Accordingly, in accordance with the second paragraph of Article XXIX of the Convention, its provisions will become effective as follows:
In respect of taxes deducted from the source, on the amounts paid in - or after - the first day of January of 2020.
In respect of other taxes on tax years beginning on or after the first day of January 2020.
