WARNINGS OF SAUDI SPONSORSHIP CHANGES FOR LEVY EXEMPTION.
CAUTION TO THOSE WHO ARE LOOKING FOR SPONSORSHIP IN SAUDI TO GET LEVY EXEMPTION MINISTER BANDAR AL-QURAIF HAS WARNED THAT STRICT ACTION WILL BE TAKEN AGAINST SUCH PEOPLE. THE MINISTER SAID THE SPONSORSHIP CHANGE HAD BEEN TIGHTENED SO AS NOT TO MISUSE THE BENEFIT OF INDUSTRY INSTITUTIONS.
MINISTER OF STATE FOR DEFENSE BANDAR AL-QURAIF HAS WARNED THAT ACTION WOULD BE TAKEN AGAINST THOSE WHO ARE SWITCHING SPONSORSHIP TO INDUSTRY TO GET LEVY. THE MINISTER WARNED THAT THIS KIND OF SPONSORSHIP CHANGE HAD COME TO LIGHT AFTER THE GOVERNMENT PASSED A FIVE-YEAR LEVY FOR FOREIGN WORKERS IN INDUSTRY.
THE MINISTER WAS RESPONDING TO QUERIES FROM INVESTORS IN THE INDUSTRY ON TWITTER. THE CABINET, WHICH MET ON TUESDAY, SEPTEMBER 24, 2019, ANNOUNCED THE GOVERNMENT'S EXEMPTION FOR FOREIGN WORKERS' LEVIES FOR FIVE YEARS. IT WENT INTO EFFECT FROM OCTOBER 1ST. AS PART OF SAUDI VISION 2030, THE GOVERNMENT AIMS TO REDUCE THE FINANCIAL BURDEN ON INVESTORS IN THE INDUSTRY AND INCREASE INVESTMENT.
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