The Saudi Arabian Cabinet has approved for ratification the tax treaty with Luxembourg. The treaty was originally signed in May 2013 and includes the following withholding rates:

• Dividends - 5%
• Interest - 0%
• Royalties - 5% for the use of, or the right to use, industrial, commercial or scientific equipment, otherwise 7%

The treaty will enter into force on the first day of the second month followi…