ANNOUNCEMENT 24 Nov 2008

In November 2008, the government of Saudi Arabia announced changed incentives for foreign investors entering the country.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Kingdom of Saudi Arabia. (24 November 2008). The Cabinet decided to grant investors tax incentives in some parts of the Kingdom. To be obtained at
http://www.sec.gov.sa/News/news11.aspx


Inception date: 24 Nov 2008 | Removal date: open ended
Still in force

FDI: Financial incentive

On 24 November 2008, the Cabinet of Saudi Arabia introduced tax incentives for investments in designated areas of the Kingdom.
 
According to the announcement, companies may apply for a tax discount of 50 percent on training as well as wage costs of Saudi employees.
 
A precondition for the eligibility is for the investment project to employ no less than five Saudis in "major technical and administrative posts" on a contract with a duration of at least one year.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A