Tax
From The Report: Saudi Arabia 2016
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This chapter contains an overview of the tax framework in which local and foreign investors operate, including a rundown of the restructuring efforts currently under way at the department of tax and an outline of the set timeframe for the introduction of value-added tax.

This chapter contains a viewpoint from Riyadh Al Najjar, KSA Country Leader, PwC.

Articles from this Chapter

Overview

Steady evolution: While the basics remain unchanged, regulations are developing
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Saudi Arabia takes third place in the global list of countries ranked by ease of paying taxes, a remarkable achievement for a G20 country with a GDP of over $650bn. With the necessary due care and commitment to compliance, businesses can enjoy the advantages of the Kingdom’s tax system. The system is basic but not simple. Tax regulations are fairly brief and their provisions are relatively clear in respect to items that they deal with directly. However, there are many areas that remain open and…

Viewpoint

In the right direction: Riyadh Al Najjar, Saudi Arabia Country Leader, PwC, on the tax policy transformation
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The sweeping reforms outlined in Vision 2030 are going to affect vast areas of the government and the economy. Tax policy will play a significant role in these reforms as part of the government’s efforts to diversify revenues away from oil and address broader social and economic objectives while maintaining a fertile business environment and continuing to attract foreign direct investment (FDI). One of the targets of Vision 2030 is to increase FDI from 3.8% of GDP to 5.7% by 2030. There is a large…