Bahrain, Saudi Arabia sign agreement to avoid double taxation

Manama, Dec. 4 (BNA): During the fourth meeting of the Bahrain-Saudi Coordination Council, held in the Kingdom of Bahrain under the chairmanship of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, an agreement was signed between Bahrain and Saudi Arabia to avoid double taxation.

The agreement was signed by Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, on behalf of Bahrain, and by Khalid bin Abdulaziz Al Falih, Minister of Investment, on behalf of Saudi Arabia.

Shaikh Salman bin Khalifa highlighted the historic ties between the two countries, describing them as strong foundations of cooperation and joint action across different areas. He noted that these ties have continued to develop and grow under the leadership of His Majesty King Hamad bin Isa Al Khalifa and King Salman bin Abdulaziz Al Saud, the Custodian of the Two Holy Mosques.

Shaikh Salman bin Khalifa also noted the role of the Bahrain-Saudi Coordination Council, under the chairmanship of HRH Prince Salman bin Hamad and HRH Prince Mohammed bin Salman, in strengthening strategic partnerships and advancing bilateral cooperation to further opportunities to achieve shared objectives and aspirations.

The agreement aims to continue developing economic ties and enhancing cooperation between Bahrain and Saudi Arabia. It represents an important milestone in strengthening economic, investment, and trade partnerships between the two countries and contributes to achieving higher levels of integration.