Saudi Arabia gives tax breaks to foreign firms with new HQs ...Kuwait

The New Arab - News

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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Last updated : 06 Dec 2023 clock 06:48 PM

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Saudi Arabia gives tax breaks to foreign firms with new HQs ...Kuwait

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