Prince Mohammed bin Nawaf bin Abdulaziz during his meeting with CSC officials.

The issue of the United Kingdom’s tax domicile system was the focus of the recent talks held by Prince Mohammed bin Nawaf bin Abdulaziz, Saudi Ambassador to the UK, with officials at the Council of Saudi Chambers (CSC).

During his visit, they discussed matters related to enhancing the bilateral relations between the two countries including efforts for supporting Saudi exports’ access to British markets and providing training to Saudi youths at British companies.

According to a statement, Saudi Arabia has been studying the UK tax domicile system and the challenges it poses Saudi investors and businessmen as well as its impact on their investments in the UK.

Prince Mohammed stressed the importance of appointing a special group to study regulations concerning this matter to ensure protection of Saudi investors’ rights, under the supervision of high level ministries (commerce, finance, and foreign Affairs) in addition to the CSC.

He assured Saudi investors of the government’s commitment to protecting their rights and ensuring those regulations are conformity with Shariah laws.

The CSC led extensive efforts to inform the Saudi business sector on the UK’s new tax system, including a lecture targeting businessmen concerning details and developments in this tax issue.

CSC’s Chairman Abdulrahman Al-Zamil expressed the CSC’s and private sector’s gratitude to the Saudi envoy for his continued support, especially to the Saudi-British Joint Business Council, and assured that Saudi-British relations hold a special priority on the CSC’s agenda.

 
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