Tax treaty between Albania, Saudi Arabia come into force

The tax treaty applies from January 1, 2020.

The tax treaty between Albania and Saudi Arabia entered into force on December 1, 2019.

The tax treaty provides for a reduced withholding tax rate of five percent for dividend payments and certain kinds of royalty payments.

Interest payments are subject to a withholding tax rate of six percent.

The tax treaty applies from January 1, 2020.