Saudi Arabia announced an SR 120-billion worth of initiatives to implement urgent measures to relieve the impact of coronavirus on the Kingdom’s economic activities, including the private sector.
“The government is moving decisively to address the unprecedented effects and consequences of the coronavirus global pandemic crisis and is taking immediate measures to ensure the safety of its citizens and residents, and to address its fiscal, financial and economic impact, Mohammed bin Abdullah Al-Jadaan, the Minister of Finance and acting Minister of Economy and Planning, said in a statement.
A set of initiatives would particularly support the private sector, especially small and medium enterprises and economic activities most affected by the coronavirus.
The following are some of the important initiatives,
1, Exemption of expatriates levy for those Iqama has expired from now until June 30, 2020, by extending their Iqama for a period of three months without charge.
2, Enabling employers to refund the fees of issued work visas that were not used during the ban on entry and exit, even if they were stamped in the passport, or extend them for a period of three months without charge.
3, Enabling employers to extend exit and re-entry visas that were not used during the ban on entry and exit from the Kingdom for a period of three months without charge.
4, Enabling business owners, for a period of three months, to postpone the payment of value-added tax, excise tax, income tax, and the submission of Zakat declarations and the payment of obligations due therefrom. The decision allows also to grant zakat certificates without restrictions for the period of the fiscal year 2019 and to accept installment requests to the General Authority of Zakat and Income Tax without applying the condition of the advance payment. In addition, postponing the execution of services suspension procedures and financial seizure by the General Authority of Zakat and Income, and setting the necessary criteria to extend the postponement period for the most affected activities as needed.
5, Postponing the collection of customs duties on imports for a period of thirty days against the submission of a bank guarantee, for the next three months and setting the necessary criteria for extending the postponement period for the most affected activities as needed.
6, Postponing the payment of some government services fees and municipal fees due on the private sector, for a period of three months, and setting the necessary criteria to extend the postponement period for the most affected activities as needed.
Source: Saudi Gazette