Middle East Economic Survey
BUDGETS AND REVENUES
Saudi Arabia Cuts Tax On Foreign Investors To 20%
The Saudi Government on 16 August issued an executive by-law cutting the rate of taxation on foreign investors in the kingdom from 45% to 20%. The law, which was approved by the Council of Ministers in January (MEES, 19 January) and came into effect on 30 July, affects foreign companies and individuals doing business in Saudi Arabia. It stipulates that the...