Sakova Signs Agreement to Prevent Double Taxation with Saudi Arabia

Bratislava, November 14 (TASR) - Slovakia concluded an agreement with Saudi Arabia to prevent tax evasion and double taxation in the area of income taxes, with the agreement signed on Monday (November 13) by Economy Minister Denisa Sakova (Voice-SD) and her Saudi counterpart Faisal bin Fadhil Alibrahim. TASR learnt the news from ministry press department director Maria Pavlusik on Tuesday. The meeting with the Saudi delegation was held in Bratislava in the presence of Vice-premier for Investments, Regional Development and Informatisation Richard Rasi (Voice-SD) and state secretaries from several Slovak ministries. Sakova praised Saudi Arabia's effort to diversify and restructure its economy, pointing out that this opens the door for new cooperation between the two countries. "We see room for extending cooperation and exchange of experience particularly in the field of small- and mid-sized business financing. We'd like to actively support our business environment and contribute towards the building of mutually beneficial ties," stated Sakova. Slovakia also sees scope for cooperation in the automobile industry. "Slovaks boast abundant experience in the automobile industry, so we can mutually share know-how," claimed Sakova. Other potential avenues of collaboration were identified in the spheres of nuclear energy and tourism, with the minister discussing the opening of a direct flight link between Slovakia and Saudi Arabia. Sakova voiced appreciation for the creation of a Slovak-Saudi trade chamber in Bratislava, initiated by the Slovak Embassy in Riyadh. mf/mcs