Saudi Arabia and Iceland Forge Agreement to Avoid Double Taxation.

Riyadh: In a significant move to foster bilateral economic relations, the Governor of the Zakat, Tax and Customs Authority (ZATCA), Eng. Suhail Abanmi and the Commissioner of Revenue and Customs in Iceland, Snorri Olsen, signed an agreement aimed at avoiding double taxation between Saudi Arabia and Iceland. According to Saudi Press Agency, the signing took place during the first day of the Zakat Tax and Customs Conference in Riyadh. The agreement is designed to encourage trade and investment between the two nations by resolving tax-related challenges, ensuring equal opportunities for investors, and enhancing economic cooperation. The conference showcases an extensive agenda, including a series of dialogue sessions, over 70 specialized workshops, and nearly 90 local, regional, and international organizations' participation in its exhibition.