Riyadh, December 5, 2024 – In a significant development aimed at enhancing international cooperation in the field of tax administration, the Deputy Governor for Strategy and Trade Facilitation of the Zakat, Tax, and Customs Authority (ZATCA), Eng. Abdullah Al-Fantoukh, and Mohamed Sebai, Director of Resources and Auditing at the Moroccan General Directorate of Taxes, have signed a landmark Memorandum of Understanding (MoU) for mutual collaboration.
The MoU was formally signed during the opening of the Zakat, Tax, and Customs Conference, which commenced today in Riyadh. This agreement marks a critical step forward in strengthening bilateral ties between Saudi Arabia and Morocco, particularly in the areas of tax governance and administration. The two parties aim to foster greater exchange of expertise, knowledge, and best practices in tax management, ensuring the development of effective and efficient tax systems in both nations.
By leveraging the capabilities of both the Zakat, Tax, and Customs Authority and the Moroccan tax administration, the MoU outlines plans for the exchange of technical expertise and resources. This initiative will facilitate the transfer of critical knowledge in areas such as tax policies, auditing practices, and administrative procedures, which are essential for the continued improvement of tax systems in both countries. The cooperation is expected to bring tangible benefits, including the enhancement of tax compliance, the adoption of advanced digital tools, and the development of streamlined processes for taxpayers.
The signing of this MoU highlights the broader ambitions of both Saudi Arabia and Morocco to strengthen their economic and trade relations while advancing efforts to improve their tax systems. With an emphasis on sharing best practices and creating a collaborative framework for success, the agreement sets the stage for future cooperation in other areas of economic governance. It is also a testament to the growing commitment of both countries to modernize their public sector operations and build sustainable, transparent tax systems in alignment with global standards.
As part of the broader context of the Zakat, Tax, and Customs Conference, this cooperation reflects Saudi Arabia’s ongoing efforts to promote international collaboration in governance and trade facilitation. The MoU not only underscores the Kingdom’s strategic role in global economic development but also highlights its commitment to fostering international partnerships that contribute to the growth and modernization of tax administrations worldwide.