UK/Saudi Arabia Double Tax Convention

During the recent state visit to the UK of King Abdullah of Saudi Arabia, a first-time comprehensive double taxation convention between the United Kingdom and the Kingdom of Saudi Arabia was signed in London on 31 October.

According to the Treasury press release, the Convention will enter into force once both countries have completed their legislative procedures.

In the United Kingdom the provisions of the Convention will take effect from 1 April (for corporation tax purposes), and from 6 April (for income tax and capital gains tax purposes) in the calendar year following the date of entry into force. In Saudi Arabia, the provisions will take effect from 1 January in the calendar year following the date of entry into force.

In addition, new treaties were signed with Slovenia and Moldova. The Conventions have not yet entered into force. This will happen when the countries have completed their legislative procedures.

UK/New Zealand Tax Treaty Protocol

A Protocol amending the exchange of information within the UK/New Zealand Double Tax Treaty was signed in London on 7 November. This Protocol has not yet entered into force. It will do so when both countries have completed their Parliamentary procedures and exchanged diplomatic notes.

Copies of the new treaties and protocol are available from the International Tax Section of the HMRC website.