1999 News Story
 

12/11/1999
Saudi Arabia and U.S. agree to tax exemption on shipping

Minister of Finance and National Economy Dr. Ibrahim Bin Abdulaziz Al-Assaf and U.S. Ambassador to the Kingdom Wyche Fowler today signed an agreement between Saudi Arabia and the United States exempting taxation on income resulting from international operation of shipping and air transport. Under the agreement, Saudi Arabian Airlines (SAA) and Saudi shipping companies will be exempted from American taxation, and in return, U.S. air and shipping companies will be exempted from Saudi taxation.


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