On 9 March 2015, the Saudi Arabian Cabinet approved for ratification the pending income and capital tax treaty with Hungary. The treaty, signed 23 march 2014, is the first of its kind between the two countries.
Taxes Covered
The treaty covers Hungarian personal income tax, corporate tax, land parcel tax, and building tax. The treaty covers Saudi Arabian Zakat, and the income tax including the natural gas investment tax.
Service PE
The treaty includes the provision that a permanent estab…