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India And Saudi Arabia Work Towards Bilateral Tax Agreement

by Lorys Charalambous, Tax-News.com, Cyprus

25 August 2005

Officials from the governments of India and Saudi Arabia are set to hold another round of talks in Riyadh next month in a bid to finalise a bilateral Double Taxation Avoidance Treaty.

Officials from the Indian embassy in Saudi Arabia have revealed in the Indian press that a Saudi delegation will visit Delhi between September 11 and 14 to continue talks on a Bilateral Investment Protection and Promotion Agreement (BIPPA). It is expected that this agreement will be concluded after a further round of talks scheduled for September 29 and 30.

At present, there are 82 joint Indian-Saudi investments taking place in Saudi Arabia, worth US$467 million, while there are 49 such such ventures in India, worth US$229 million.

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