Tax holiday for expansions of industrial joint ventures

Article Abstract:

Saudi Arabia's Ministerial Resolution Number 3/3170 provides qualifying foreign companies with a 10-year tax holiday on profits generated by new capital investment in ongoing industrial joint ventures. The Resolution, issued on May 23, 1993, conforms to the country's Foreign Capital Investment Law by requiring foreign firms to be licensed by the Ministry of Industry and Electricity under several conditions such as investing in development projects. Foreign companies must satisfy additional criteria to be eligible for the tax exemption such as being up to date with tax and zakat payments.

Taxation, Foreign corporations, Saudi Arabia, Joint ventures, Tax policy, Tax exemption, Tax exemptions, Industrial development, Industrialization

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Franchise agreements in Saudi Arabia: implications of applicability of agency law

Article Abstract:

Saudi Arabia's Ministry of Commerce on Mar 31, 1992 issued its Ministerial Resolution No. 1012 concerning the regulation of franchise agreements. The resolution declared that the Commercial Agencies Law and its Implementing Regulations would apply to franchise agreements. A Franchising Model Agreement would be prepared to help agents and distributors. Existing franchisees were given six months to register their agreements. In addition, franchise agreements can only be entered by Saudi natural or juristic persons. Franchises still subject to dispute cannot be registered.

Franchises, Saudi Arabia. Ministry of Commerce

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Saudi Arabia and the ICSID

Article Abstract:

Saudi Arabia has never been party to a contract which included an International Center for the Settlement of Investment Disputes (ICSID) arbitration clause despite their ratification of the ICSID Convention in on May 8, 1980. However, there is no requirement that the Saudi government submit to the ICSID convention and only consent by all parties will move a dispute into ICSID jurisdiction. This aspect has been included in Saudi law, giving the Prime Minister final authority over such disputes.

International relations, Dispute resolution (Law), Saudi Arabian foreign relations, International Centre for Settlement of Investment Disputes

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