SAUDI IQAMA HELPER: Saudi On Steps To Overcome Coivid Crisis ,Vat Will Be 15 Percent From July.

Saudi On Steps To Overcome Coivid Crisis ,Vat On July 15 Percent

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Following The Riyadh-Kovid Crisis, The Finance Minister Announced Plans To Increase Value Added Tax To Protect Saudi Arabia's Financial Sector. Value Added Tax Will Be 15% From July. Which Is Currently Five Per Cent.

Finance Minister Mohammed Al-jad'an Said That Covid Had A Three-pronged Impact On The Country's Financial Sector. First, The Demand For Oil Is The Main Source Of Income. Second, It Has Taken Necessary Measures To Safeguard The Health Of Both Foreigners And Natives. The Country Is The Third Witness To Unexpected Costs. The Government Had To Implement Some Measures To Counter This.

The Cost-of-living Allowance Paid To Saudi Nationals Will Be Suspended From June. Value Added Tax (Vat) Will Be Raised To 15% From 5%.

The Country Is Facing A Crisis Not Seen In Its History. The Current Uncertainty And Its Unknown Extent And Daily Consequences Need To Be Handled With Due Diligence At The Right Time. The Minister Said That More Measures Were Needed To Protect The Indigenous People And Foreigners, The Hospitality And The Infrastructure.