Shura has taken part in their study as it was also briefed on the outputs of the Cabinet's Expert Bureau and General Committee towards these issues. The Cabinet has concluded as follows: First: The Cabinet authorized the Board of Directors of King Abdulaziz Foundation for Research and Archives to select of its members whoever it considers as suitable to sign a draft memorandum of cooperation between Foundation of the Kingdom of Saudi Arabia and the Institute of Manuscripts at Academy of Azerbaijan National Sciences of the Republic of Azerbaijan, before submitting the signed version, to complete the statutory procedures. Second: After review of the report submitted by the Minister of Finance, and after consideration of the Majlis Al-Shura's resolution No. (134/72) dated 01/09/2014, the Cabinet approved an agreement between the Government of the Kingdom of Saudi Arabia and the Government of Hungary on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital, and attached (protocol) which were signed in Riyadh on 24/03/2014. A royal decree has been prepared to this effect. Among the most prominent features of this Agreement: 1 - This Agreement shall apply on imposed taxes on income and capital for the interest of each of the Contracting State or its local authorities, irrespective of how they are levied. 2 - The taxes on income and capital are considered as all imposed taxes on total income, on total capital, or on elements of income or capital elements, including taxes on gains resulting from acting of movable or immovable properties, and taxes on the total amounts of wages and salaries paid by enterprises as well as taxes on the increase in the value of the capital. --More 16:10 LOCAL TIME 13:10 GMT تغريد
