Cabinet OKs Saudi-US tax compliance pact

RIYADH: The Cabinet on Monday approved an agreement between the governments of Saudi Arabia and the United States to improve compliance to international tax and implementation of Foreign Account Tax Compliance Act.
The Cabinet, at the weekly meeting chaired by King Salman, also strongly condemned the attack targeting a Saudi frigate west of Hodeidah port in Yemen last month.
While expressing its condolences, the Cabinet reaffirmed its full support to the efforts of Saudi-led coalition aiming at restoring legality, peace and security in Yemen.
The Cabinet termed the suicide attack on the frigate launched by a boat of Houthi militia as a “terrorist attack,” which resulted in the deaths of two crew members and injuries to three others.
The Council of Ministers said “the attack was a dangerous development, which threatens international navigation in the Red Sea and impedes the flow of humanitarian and medical aids to Yemeni citizens.”
The Cabinet praised the bravery of the frigate’s crew and affirmed that “such an incident would not stop coalition forces supporting the legitimacy in Yemen from continuing military operations until the Yemeni government and people regain the state and protect its capabilities from the coup militias.”
Referring to the bombing incident in Bahrain, the Cabinet expressed grief and strongly condemned the attack.
It also denounced the attack that targeted the worshippers at a mosque in Canada.
The Cabinet slammed the attempted knife attack on a security patrol near Louvre Museum in Paris.
The Council of Ministers affirmed Saudi Arabia’s continued rejection of extremism and terrorism and its calls for concerted global efforts to combat and eradicate them.
The Cabinet also expressed appreciation for King Salman for patronizing the opening ceremony of the National Festival for Heritage and Culture nicknamed as Janadriyah festival.
Chaired by King Salman at Yamamah Palace here on Monday, the Cabinet also expressed thanks to the king for extending help to promote Islamic culture and for solidarity of scientists, scholars, thinkers, writers, intellectuals and media representatives to showcase heritage.
The Cabinet further commended the king’s keen interest in preserving the Arab and Islamic identity as well as heritage and culture.
A statement said that the identity of each nation is measured by its values, traditions and heritage.
The Cabinet also appreciated efforts exerted by the Ministry of National Guard in organizing Janadriyah festival, which has shown diversity in heritage and arts representing various regions of the Kingdom.
The Cabinet praised the festival “for inviting foreign writers and intellectuals, who are sharing efforts with their Saudi counterparts in the enrichment of culture and in the promotion of values and traditions.”