HMRC has updated its double taxation treaty guidance to include the ‘synthesised’ version of the UK/Saudi Arabia agreement as modified by the Multilateral Instrument. The revised version takes effect as follows:
in both countries from 1 January 2021 for taxes withheld at source on amounts paid or credited to non-residents;
in the UK, from 1 April 2021 for corporation tax and from 6 April 2021 for income tax and CGT; and
in Saudi Arabia for all other taxes levied by Saudi Arabia, for taxable periods beginning on or after 1 November 2020.
HMRC has updated its double taxation treaty guidance to include the ‘synthesised’ version of the UK/Saudi Arabia agreement as modified by the Multilateral Instrument. The revised version takes effect as follows:
in both countries from 1 January 2021 for taxes withheld at source on amounts paid or credited to non-residents;
in the UK, from 1 April 2021 for corporation tax and from 6 April 2021 for income tax and CGT; and
in Saudi Arabia for all other taxes levied by Saudi Arabia, for taxable periods beginning on or after 1 November 2020.
