Saudi Arabia announced on Tuesday it would grant 30 years of tax relief to multinationals establishing regional headquarters in the Gulf kingdom. The announcement is an attempt to clear up a major question surrounding a programme intended to help transform Saudi Arabia, the world's biggest crude oil exporter, into a business hub with a more diversified economy. It comes less than a month before a January 1 deadline for multinationals to open regional headquarters in Saudi Arabia or lose out on government contracts. The tax-relief package includes a zero-percent rate for corporate income tax and withholding tax, the investment ministry said in a statement. Executives
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