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Saudi Arabia Has Officially Announced Tax Exemptions For Specific Businesses In The Kingdom
The Kingdom’s Minister of Finance, Mohammad Al Jadaan announced the update in the recently held “Investment in Special Economic Zones” forum.
He stated that the Kingdom will provide a VAT exemption on transactions between specific economic zones
The nation will also implement a tax discount for a period of 20 years, so that investors may continue long term planning. the MOF also emphasized that the Kingdom is the ONLY country that obtained three positive ratings during 2023. Just this April, Crown Prince Mohammad bin Salman announced the launch of Saudi’s new economic zones, out of which the Kingdom has attracted $12.6 billion (SAR 47.2 billion) from investors.
