Saudi Arabia will increase VAT to 15% starting from July 1

Saudi Arabia to increase VAT to 15% starting from July 1

Saudi Arabia has decided to increase the value added tax (VAT) from 5% to 15% starting 1 July and to suspend the...
Saudi Arabia to take "strict, painful" measures to deal with coronavirus impact

Saudi Arabia to take “strict, painful” measures to deal with coronavirus impact

Saudi Arabia will take strict and painful measures to deal with the impact of the coronavirus pandemic, the finance minister said in...
Saudi Arabia's Foreign Reserves Cover Imports for Four Years

Saudi Arabia’s Foreign Reserves Cover Imports for Four Years

An economic report said the current indicators have stressed the cohesion of the Kingdom’s national economy, amid the unprecedented challenges afflicting the...
SAMA Directs Banks, Money Exchanges to Work Remotely for 16 days

SAMA Directs Banks, Money Exchanges to Work Remotely for 16 days

The Saudi Arabian Monetary Authority (SAMA) has directed all financial institutions including banks and money exchanges in the Kingdom to work remotely...
70% SAUDIZATION IN 9 KEY SECTORS STARTING MUHARRAM-01

70% Saudization in 9 Key Sectors Starting Muharram-01

Saudi Arabia plans to localize more jobs in retail and wholesale outlets in nine major sectors starting in Muharram 01.
SAUDI EXPAT REMITTANCES FELL

Expat Remittances Fell 8 Percent in 2019

Expat remittance outflows in Saudi Arabia dropped, for the 4th year in a row, by 8 percent year-on-year (YoY) to SR 125.5...