The Swiss Federal Council on August 15 adopted the dispatch on the tax treaty with Saudi Arabia.
The tax treaty was signed in Riyadh on February 18, 2018.
The tax treaty incorporates several provisions from the OECD’s base erosion and profit shifting project. It also contains an administrative assistance clause in accordance with the current international standard for the exchange of information upon request.
The tax treaty will enter into force after it is approved by Parliament in Switzerland and after the necessary approval procedure is carried out in Saudi Arabia.