Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh ...Middle East

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Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh
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Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 15 July 2022. Made Nagi/Pool via REUTERS/File Photo Acquire Licensing Rights RIYADH, Dec 5 (Reuters) – Saudi Arabia said on Tuesday it will offer tax incentives for foreign companies that locate their regional headquarters in the kingdom, including a 30-year exemption for corporate income tax. The world’s top oil exporter announced in February 2021 plans to cease awarding government contracts to companies whose regional headquarters are not located in the kingdom by Jan. 1, 2024. The ultimatum, part of efforts by Crown Prince M

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