Finance Minister signs agreement to avoid double taxation with Gabon 2 Riyadh

Dr. Al-Assaf pointed out that the agreement is considered the 43rd tax agreement signed by the Kingdom with other countries and represents a stable legal framework that sets the tax relations between the Kingdom and Gabon, as it sets clearly the tax treatment for the investor of each State during practicing the activity in the other Contracting State, and prevents double taxation on earned income of the investor’s activity, and therefore, this agreement reduces the tax burden on investors and achieves for them transparency in tax treatment.

He called on businessmen in both countries to take advantage of what is provided by the agreement of privileges and tax cuts to create more joint trade and investment ventures, pointing out that the volume of trade exchange between the Kingdom and Gabon does not reflect the two countries’ distinguished relations, urging businessmen in both countries to look for mechanisms and chances to support the trade and investment exchange between the two countries.