ANNOUNCEMENT 24 Nov 2008In November 2008, the government of Saudi Arabia announced changed incentives for foreign investors entering the country.
NUMBER OF INTERVENTIONS
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
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.