Standards for Automatic Exchange of Financial Account Information

Decision 78/2020

Issued on 17 September 2020 - (Effective from day following publication in the Official Gazette)

Based on the Income Tax Law promulgated by Royal Decree 28/2009; and To the Royal Decree 34/2020 Ratifying the Convention on Mutual Administrative Assistance in Tax Matters;

In pursuant to the public interest,

It has been decided as follow:

Article 1

The annexed Standards shall be followed for Automatic Exchange of Financial Account Information.

Article 2

This decision shall be published in the Official Gazette, and shall be enforced on the day following its date of publication.

Issued on: 28 Muharram 1442 Hijri
Corresponding to: 17 September 2020

Saud Nassir Al Shukaily
Chairman of Tax Authority

Standards for Automatic Exchange of Financial Account Information

Article 1

In application of this Decision, the words and phrases contained therein shall have the same meaning stipulated in the aforementioned Income Tax Law, and the following words and phrases wherever mentioned shall have the meanings next to them unless the context requires otherwise: