Tax
From The Report: Saudi Arabia 2013
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Keeping abreast of tax developments is essential for any business hoping to optimise its financial position. This chapter provides an overview of the business environment in Saudi Arabia, outlining the key areas of investment and growth. This chapter also includes a viewpoint with Bakr Abulkhair, Chairman and Managing Partner, Deloitte & Touche Bakr Abulkhair & Co.

Articles from this Chapter

Overview

Building up strength: Lessons to be learned about tendering and expectations as the economy recovers
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As governments work to realign their development plans with current economic realities, and investors reshape business models with the same aim, the GCC construction sector offers a useful example of the importance of taking stock and moving on. While many construction markets in the Middle East have stalled in recent years, Saudi Arabia’s continues to move from strength to strength. Indeed, it remains one of a handful in the region that continues to offer a wealth of unfolding opportunities. The…

Analysis

A healthy approach: A growing population has highlighted the need for investment in health care
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In 2012 the Saudi government allocated SR86.2bn ($23bn) to health and social affairs, the largest amount in its history. Upgrading the health sector has become part of the country’s social strategy as it strives to accommodate the needs of a growing population expected to reach 32.8m by 2016. When the Ministry of Health announced its budget for 2012 of SR7.2bn ($1.92bn), this included allocations for the construction of 12 new hospitals with a total capacity of 3100 beds. Such initiatives fit…

Analysis

Green light: Renewable energy goals present both challenges and opportunities
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Although traditionally seen as a region of high carbon emissions, the Middle East is gradually taking steps toward change, pushing for greater use of renewable energy. Saudi Arabia is among those governments in the region that are setting ambitious targets for renewable energy use – in early 2012 the Kingdom, along with Kuwait, and Oman, announced plans to produce at least 10% of its energy from sustainable sources by 2020. For private sector businesses in the renewable energy and clean-tech fields,…

Viewpoint

Bakr Abulkhair, Chairman and Managing Partner, Deloitte & Touche Bakr Abulkhair & Co., on recent changes
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Keeping abreast of tax developments is essential for any business hoping to optimise its financial position. In Saudi Arabia, Deloitte & Touche Bakr Abulkhair & Co. maintains a continuous dialogue with the Department of Zakat and Income Tax (DZIT) to ensure that we offer our clients the best advice possible. Additionally, through roundtables and road shows across the kingdom we share the latest tax information with private sector stakeholders in a bid to help the business community stay on…