1. Dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be taxed in that other Contracting
    State.

2. However, such dividends may also be taxed in the Contracting State of which the company paying the dividends is a resident and according to the laws of
    that State, but if the beneficial owner of the dividends is a resident of the other Contracting State, the tax so charged shall not exceed:

   a. 5 percent of the gross amount of the dividends if the beneficial owner is a company (other than a partnership) which holds directly at least 10%
       (ten percent)  of the capital of the company paying the dividends;
  b. 10 percentof the gross amount of the dividends in all other cases.
       The competent authorities of the Contracting States shall by mutual agreement settle the mode of application of this paragraph. The provisions of this
       paragraph shall not affect the taxation of the company in respect of the profits out of which the dividends are paid.

3. The term 'dividends' as used in this Article means income from shares, 'jouissance' shares or 'jouissance' rights, mining shares, founders' shares or other
    rights not being debt-claims, participating in profits, as well as income from other corporate rights which is subject to the same taxation treatment as income
    from shares by the laws of the State of which the company making the distribution is a resident.

4. The provisions of paragraphs 1 and 2 of this Article shall not apply if the beneficial owner of the dividends, being a resident of a Contracting State, carries on
     business in the other Contracting State of which the company paying the dividends is a resident, through a permanent establishment situated therein or
     performs in that other State independent personal services from a fixed base situated therein and the holding in respect of which the dividends are paid is 
     effectively connected with such permanent establishment or fixed base. In such a case the provisions of Article 7 or Article 14, as the case may be, shall
     apply.

5. Where a company which is a resident of a Contracting State derives profits or income from the other Contracting State, that other State may not impose any
    tax on the dividends paid by the company, except insofar as such dividends are paid to a resident of that other State or insofar as the holding in respect of
    which the dividends are paid is effectively connected with a permanent establishment or a fixed base situated in that other State, nor subject the company's
    undistributed profits to a tax on the company's undistributed profits, even if the dividends paid or the undistributed profits consist wholly or partly of profits or
    income arising in such other State.

The above information is the wording of the article dealing with the withholding tax on dividends of the tax treaty between The Netherlands and Saudi Arabia.  Please note that the ultimate withholding tax rate may differ from the treaty rate, for instance as consequence of domestic anti-abuse legislation, provisions of the treaty protocol, etc. Before you use this information we therefore strongly recommend that you consult us to determine the accurate withholding tax rate for your specific situation. If you require our follow up, you can contact us via e-mail or call us at our offices: Ph. + 31 (10) 2010466.