Key findings
The Phase 2 review rates Saudi Arabia as overall largely compliant with the international standard. Saudi Arabia’s legal framework and its practical implementation generally ensure that ownership, accounting and banking information are available in accordance with the standard. By ratifying the multilateral Convention on Mutual Administrative Assistance in Tax Matters in December 2015, the Saudi Arabian authorities will be able to use their domestic powers to obtain and provide information in response to all EOI requests made under that instrument, as it takes precedence over the domestic law and any restrictions therein. The report recommends that Saudi Arabia establishes appropriate organisational processes for responding to EOI requests in a timely manner, and that its competent authority regularly communicates with its treaty partners about these EOI requests.For further information on Saudi Arabia’s exchange of information practices and to read the full report click here.