Posted by : Aahil Shaik Thursday, July 23, 2020
Income Tax is not under Discussion - Finance Minister
Finance Minister Mohamed Al-Jadaan said that what was reported about him in one of the agencies that the option to impose income tax could not be excluded logically, as an option available in the global practices of the state budget. Trending : No specific date set yet on the resumption of International flights of Saudi Arabia
Al-Jadaan added, through his account on the social networking site Twitter said that, the option of Income Tax was not discussed in the cabinet, nor any of the government councils and committees at all, and it is not an option for discussion.
- He also said that we are assessing the needs of the Saudi economy and will provide the required support to ensure recovery. See Also : The blessed day of Arafat - Hajj
- He pointed out that this July's data shows an economic recovery, but there is still a lot of uncertainty. Al-Jadaan added that the pace of the Saudi economic contraction will likely be less than the 6.8% that the International Monetary Fund expected.
- He pointed out that the demand for tourism in Saudi Arabia increased in July thanks to domestic demand. Al-Jadaan also said that the budget spending announced in December is likely to remain unchanged until the end of the year, but with the reallocation of some sectors. See Also : Kuwait issues guidelines to follow during resumption of International flights
- He revealed out that Saudi Arabia issued much more local debt than was planned for this year.