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No income tax for Saudi citizens, says Saudi Arabia finance minister

No income tax for Saudi citizens, says Saudi Arabia finance minister

Monday, April 10, 2017, 10:47 AM

Saudi Arabia's finance minister said that citizens would not pay taxes on income and Saudi companies would not see their profits taxed under sweeping-economic-reforms being introduced in the oil-rich kingdom.The collapse in oil-prices after mid-2014 has pushed Saudi Arabia to contemplate a radical overhaul of all parts of its economy, including new taxes, privatizations, a changed investment strategy and sharp cuts in government spending.
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