Saudi Arabia’s Minister of Finance, Mohammed Al-Jadaan has said that tripling value-added tax (VAT) to 15% was the best among the bitter choices the government took during 2020. Saudi Arabia will review its VAT increase after the coronavirus pandemic ends.
In other news, Saudi Crown Prince Mohammed bin Salman gave a televised interview on Tuesday for the fifth anniversary of the kingdom’s Vision 2030 reform programme launch. Prince Mohammed has brought in several multibillion-dollar projects to put Saudi Arabia on the map for innovation, tech and youth-driven initiatives.
To read about this and more of the week’s news from the Kingdom, click here.
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