Saudi Arabia joins as an observer of the agreement of the mechanism of cooperation of tax administrations within the initiative of the belt and road

21-04-2019 Media in \Riyadh
The Governor of the General Authority for Zakat and Income Tax, Eng. Suhail Abanmi, signed yesterday the agreement of the Kingdom’s accession to the mechanism of cooperation of tax administrations within the initiative of the belt and road as an observer during the first forum of the mechanism of cooperation held in WUZHEN in the People’s Republic of China.
The move aims to strengthen the tax administration capabilities of the Kingdom by reducing and resolving tax disputes, improving taxpayers’ services, simplifying their compliance procedures, automating the work of tax administrations, and raising clarity and the rule of law.
The Kingdom’s delegation to the forum met with the delegation of the Organization for Economic Co-operation and Development (OECD) and held a special meeting with the Chinese side, during which they discussed the mechanism of cooperation in tax fields, improving coordination of tax policies, enhancing tax capacity building and facilitating trade and investment.
The “Belt and Road Initiative” was designed to develop and promote trade between the various countries of the world, to create paved routes for the transport of goods and to enhance the logistics capacity of the countries participating in the initiative, thus enhancing trade and cultural exchange.