| 06 Nov 2006 |
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Saudi, Italy to Sign Deal on Double Taxation
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RIYADH, 6 November 2006 -- Italian Ambassador Eugenio d'Auria said yesterday that Italy and Saudi Arabia are to sign soon an agreement that permits to avoid double taxation among businessmen in both countries.
"That means that goods or products which have been taxed in Saudi Arabia would not be taxed in Italy and vice versa," the envoy told a press conference at the Italian Embassy on the occasion of the visit of a four-member delegation from the furniture sector in Italy.
With the signing of the accord, the prices of furniture and other products from Italy in the Kingdom and other parts of the GCC would drop. At the press conference, the delegation said that the prices of Italian furniture are relatively higher compared to those from the Far East because they are of high quality and last longer.
The delegation, which arrived in Riyadh on Saturday, met with the Council of Saudi Chambers of Commerce and Industry (CSCCI) Secretary-General Hussein Al-Athel yesterday morning. The delegation is led by Alberto Drudi, president of the Chamber of Commerce and Industry and Agriculture in Italy.
By Rodolfo C. Estimo Jr
© Arab News 2006
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