By 
Income Tax and Privatization update by Finance Minister through several channels including Reuters, Saudi Press agency and other channels. Recently, the news made viral about the income tax plan discussion in Saudi Arabia went viral. However, the Minister of Finance Mohammed Al-Jadaan further clarified the situation. Details below.
Income Tax and Privatization update by Finance Minister
Firstly, about the income tax, Mohammed Al-Jadaan mentioned that there is no imminent plan or discussion to implement income tax in Saudi Arabia at this moment. However, nothing has been ruled out for future discussions. Saudi Press Agency also mentioned that the official source mentioned that the income tax issue is not under discussion.
Finance Minister Al-Jadaan also discussed the privatization of some sectors in Saudi Arabia. During an event of Bloomberg, he mentioned that this will generate nearly $50 billion during the span of the next 4-5 years. The Minister also said that the data from July looked promising for the recovery from Coronavirus but uncertainty is not completely vanished.
Saudi Arabia’s response to COVID-19, safety and economy has been appreciated by world leaders and people living in Saudi Arabia.
Sources: SPA, Saudi Gazette, Bloomberg and Reuters
Watch Masjid An Nabwi Ramadan 2019.
Finally, follow Riyadh Xpress’s:
- Facebook: Click Here
- Twitter: Click Here
- Instagram: Click Here
In addition, check out the latest articles by Riyadh Xpress.
- Firstly, King Salman urged the world to respond to the human crises causes by Covid-19: Click Here.
- Secondly, Social Distancing Measures implemented in supermarkets: Click Here.
- Thirdly, the latest penalties on Iqama: Click Here.
- Fourthly, Disabled parking violation/fine in Saudi Arabia: Click Here.
- Lastly, hackers attack again to get your personal data: Click Here.
Check out the most viewed articles
- Firstly, one riyal shop in Riyadh: Click Here.
- Secondly, 5 Riyals Mall in Riyadh: Click Here.
- Thirdly, Riyal al Barakah: Click Here.
- Lastly, 20 new changes in Saudi Arabia in 2020: Click Here.
