Analysis

TAXATION IN SAUDI ARABIA

Saudi Arabia Gives Final Approval to VAT

• SUSTG Team
• |
• 1. 31. 2017

The Saudi Cabinet approved on Monday a GCC-wide measure for implementing a value added tax (VAT) of 5% on certain goods, according to reports.

• Saudi Aramco IPO

  

  Saudi Aramco Selects U.S. Firms to Audit Reserves for 2018 IPO

  SUSTG Team  |  1. 27. 2017

  Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources told Reuters on Thursday.

• 'Vision Fund'

  

  Saudi-backed Softbank Technology Investment Fund Hits $100b Mark Ahead of Schedule

  SUSTG Team  |  1. 6. 2017

  Oracle founder Larry Ellison will join Apple, Qualcomm and Foxconn in backing SoftBank’s record-setting technology fund, allowing the Japanese telecoms group to hit its $100 billion goal weeks ahead of schedule, the Financial Times reports.

• Istanbul Shooting

  

  Four of Seven Saudi Bodies are Returned Home as Kingdom Reels from Lost Youth in Istanbul Terrorist Attack

  SUSTG Team  |  1. 4. 2017

  The bodies of four Saudis who were slain in the attack on an Istanbul nightclub were returned home as the Kingdom reels from the loss of its citizens at the hands of Daesh terrorists abroad.

• Capital Punishment

  

  Number of Executed in Saudi Arabia in 2016 Dips Slightly from 20-Year High

  SUSTG Team  |  1. 2. 2017

  Saudi Arabia executed 153 people in 2016, a slight reduction over 2015 (158) that marked a 20-year high for the Kingdom. Still, it is far fewer than regional rival Iran and global leader China.

• 

  U.S. Chamber of Commerce Brings Global Initiative on Health and Economy to Saudi Arabia

  SUSTG Team  |  12. 21. 2016

• U.S.-Saudi Military Sales

  

  Major U.S. $7.9 Billion Weapon Sales Plans Include $3.51b in Chinooks to Saudi Arabia

  SUSTG Team  |  12. 9. 2016

  The Defense Security Cooperation Agency (DSCA) has approved five notifications of weapon sales to Congress, including 48 Chinook Cargo Helicopters for Saudi Arabia, Apache helicopters for the United Arab Emirates and TOW missiles for Morocco, according to reports.

• King Salman

  

  King Salman Dances in Qatar, Causes Social Media Buzz

  SUSTG Team  |  12. 7. 2016

  Saudi Arabia's King Salman set social media sites ablaze after he was seen dancing the traditional Ardha dance alongside his counterpart, the Qatari Emir HRH Sheikh Tamim bin Hamad Al Thani.

• Government

  

  Saudi Arabia Replaces Labor Minister, Appoints 30 Women to Shoura Council

  SUSTG Team  |  12. 5. 2016

  Saudi King Salman appointed a new Minister of Labor on Sunday and appointed 30 women to the Shoura council as the Kingdom seeks to turn short term economic pain into long term stability and diversification with its Vision 2030 policy.

• Jadwa Investment

  

  Jadwa Investment: ‘Prudent Policies’ Should Decrease Saudi Deficit in 2017

  SUSTG Team  |  11. 23. 2016

  Jadwa Investment's recently released macroeconomic update for the Kingdom's economy finds that "prudent policies" have been taken to reform the fiscal budget.