Foreigners will not be exempt from family fees, Saudi Finance Minister
Saudi Arabia’s Finance Minister Mohammed Al-Jadaan made it clear. That there is no intention to amend the ‘dependent fees’ fixed on foreigners. But the government is constantly reviewing its schemes.
He said that there is no intention of amending the tax fixed on foreigners or their families at this time. If the amendment made, it will announce immediately as amended with respect to the industrial sector.
Saudi Finance Minister Mohammed Al-Jadaan has said that Saudi Arabia’s revenue was not affected by the presentation of Aramco shares, the Saudi government will continue to receive 98.3% of Aramco’s profit.
Dependent Fees
Remember that Saudi Arabia imposed a fee on the families of foreign workers, which started in July 2017.
- Firstly, in 2017 the first year it was SAR100/Month per family member.
- Secondly, in 2018 the second year it was SAR200/Month per family member.
- Thirdly, in 2019 the third year it was SAR300/Month per family member.
- Which has now become 400 Hundred Saudi Riyals per family member.
During 2018, the number of foreign workers was also fixed on the number of foreign workers in each institution whereas foreign worker’s tariffs are increasing steadily.
Talking to media representatives after the announcement of the national budget. Finance Minister Mohammed Al-Jadaan has said that KSA does not seek guidance from the World Monetary Fund on VAT. He said the VAT decided by the Gulf countries. With no plans to increase more than 5% at the moment.
The Finance Minister further said that Saudi Arabia’s revenue not affected by the presentation of Aramco shares; the Saudi government will continue to receive 98.3% of Aramco’s profit.
Finally, according to Al-Jadaan, revenue from non-oil sources has increased remarkably. A fourfold increase recorded over the past five years, thereby strengthening government revenue.
Ary News Reported.
Finally, follow Riyadh Xpress’s Twitter Account: Click Here. Also, Facebook Account: Click Here.