Saudi Arabia denies levy on expat remittances

Published January 23rd, 2017 - 08:30 GMT
In April of 2016, Saudi Arabia said it was considering a US-style green card system to help reduce remittances. (File photo)
In April of 2016, Saudi Arabia said it was considering a US-style green card system to help reduce remittances. (File photo)

The Saudi Arabia's Finance Ministry has announced that there would be no fees applied on remittances out of the country.

Saudi Arabia is "committed to the principle of free movement of capital in and out of the kingdom, in line with international standards," the ministry's official Twitter account said.  

The announcement comes days after the kingdom's advisory Shura Council said it was looking at a proposal to impose a six percent levy on expatriate remittances.

 


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