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Foreign travel advice Indonesia
FCDO advises against all travel to parts of Indonesia.
Foreign travel advice Romania
Warnings and insurance Still current at: 24 April 2024 Updated: 23 April 2024 Latest update: Information related to drug offences and Romanian music festivals (under 'Laws and cultural differences' subheading on the 'Safety and security' page).
Foreign travel advice The Gambia
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).
Foreign travel advice China
Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).
Guidance Living in South Korea
Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.
Double Tax Treaty between Cyprus and Saudi Arabia approved by Saudi Council
Saudi Arabia's Shura Council (Majlis Al-Shura) approved the Double Tax Treaty (DTT) between Cyprus and Saudi Arabia on 26 September 2018. As previously reported the DTT was signed on 3 January 2018. The particulars of the DTT are presented below in summary.
Application
The treaty applies to taxes on income as well as on gains from alienation of movable or immovable property.
In the case of Cyprus, the treaty covers corporate and personal income tax, special contribution for defence and capital gains tax, whereas in the case of Saudi Arabia, the treaty covers the Zakat and the income tax.
Withholding Tax
Dividends
The DTT provides for withholding tax on dividends at the following rates:
- Nil in cases where there is at least 25% participation by a company that is tax resident in the receiving jurisdiction.
- 5% in all other cases.
Interest
No withholding tax is charged on interest, as long as the recipient is the beneficial owner of the income.
Royalties
As long as the recipient is the beneficial owner of the income the treaty provides for the following rates of withholding tax:
- 5% in cases where the royalties are paid for the use of, or the right to use, industrial, commercial or scientific equipment
- 8% in all other cases
Capital Gains
The treaty provides that gains arising from the disposal of shares of a substantial participation in the capital of a company which is resident of a Contracting State may be taxed in that Contracting State.
A person is considered to have a substantial participation when this is at least 25% of the capital of the target company, at any time within twelve months prior to the disposal of the shares.
Effect
The DTT will come in to force on 1 January 2019 assuming the ratification procedures by the two countries are completed within 2018.