Saudi Arabia considering taxing foreigners income

Published April 2nd, 2001 - 02:00 GMT

The Saudi Arabian government is studying the possibility of levying income tax on workers from foreign countries, sources report from Riyadh. But such a move is only one of several policy changes being considered by the country’s Supreme Economic Council. 

 

Speaking to the local press, the Saudi Minister of finance and national security, Dr Ibrahim Al-Assaf, stated that only changes in income tax code were being considered. 

 

He also said that the Saudi Arabian government was finally prepared to allow for the establishment of a full-fledged stock market, and a formal proposal has been sent to the council for evaluation.  

 

Also being considered was new insurance company law, which, if approved, would lift the ban on foreign investment in the insurance sector. – (Albawaba-MEBG) 

© 2001 Mena Report (www.menareport.com)


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