Saudi News

No income TAX is under discussion

Finance Minister Mohamed Al-Jadaan said that what was reported about him in one of the agencies that the option to impose income tax could not be excluded logically, as an option available in the global practices of the state budget.
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Al-Jadaan added, through his account on the social networking site Twitter said that, the option of Income Tax was not discussed in the cabinet, nor any of the government councils and committees at all, and it is not an option for discussion.
He also said that we are assessing the needs of the Saudi economy and will provide the required support to ensure recovery.
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He pointed out that this July’s data shows an economic recovery, but there is still a lot of uncertainty. Al-Jadaan added that the pace of the Saudi economic contraction will likely be less than the 6.8% that the International Monetary Fund expected.