Saudi Arabia Introduces Tax Breaks to Lure Company Headquarters to Riyadh
Saudi Arabia has unveiled a tax incentive scheme offering a 30-year income tax exemption to multinational corporations that establish their regional headquarters in Riyadh.
Announced by the Ministry of Investment, the Ministry of Finance, and the Zakat, Tax and Customs Authority, this initiative aims to attract global businesses and strengthen Riyadh's position as a top choice for regional operations in the Middle East and North Africa.
The program, jointly launched with the Royal Commission for Riyadh City, provides zero income tax and withholding tax exemptions on certain activities starting from the licensing date.
Investment Minister Khalid Al-Falih cited the tax perks, Saudization flexibility, and talent attraction as compelling reasons for companies to set up in the Kingdom, enhancing its status as a regional hub.
Finance Minister Mohammed Al-Jadaan highlighted the move's benefits in offering companies vision clarity and stability for strategic expansion.
He also urged international firms to join the Kingdom's developmental journey, hinting at opportunities in various sectors and upcoming major events like the Asian Winter Games 2029 and the World Expo 2030.
The program, jointly launched with the Royal Commission for Riyadh City, provides zero income tax and withholding tax exemptions on certain activities starting from the licensing date.
Investment Minister Khalid Al-Falih cited the tax perks, Saudization flexibility, and talent attraction as compelling reasons for companies to set up in the Kingdom, enhancing its status as a regional hub.
Finance Minister Mohammed Al-Jadaan highlighted the move's benefits in offering companies vision clarity and stability for strategic expansion.
He also urged international firms to join the Kingdom's developmental journey, hinting at opportunities in various sectors and upcoming major events like the Asian Winter Games 2029 and the World Expo 2030.
