Saudi Arabia Announces Major Tax Reforms in Bid to Boost Economy
Saudi Arabia will provide a permanent VAT exemption on transactions within special economic zones and between different zones.
There will also be a tax discount for a period of 20 years within special economic zones.
The minister also announced a reduction in taxes for a period of 20 years and a permanent exemption for social insurance tax for employers and transactions between companies in different special economic zones.
Lastly, Saudi Arabia is the only country to have received a positive rating in 2023.
The minister also announced a reduction in taxes for a period of 20 years and a permanent exemption for social insurance tax for employers and transactions between companies in different special economic zones.
Lastly, Saudi Arabia is the only country to have received a positive rating in 2023.
