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Saudi Arabia signals end of tax-free living as oil revenues slump

Saudi Arabia signals end of tax-free living as oil revenues slump

Publicerat av Tony Harkén söndag, 05 februari 2017.

Cabinet approves an IMF-backed value-added tax to be imposed across the Gulf in bid to cut budget deficit.

Tax-free living will soon be a thing of the past for Saudis after its cabinet on Monday approved an IMF-backed value-added tax to be imposed across the Gulf following an oil slump.

A 5% levy will apply to certain goods following an agreement with the six-member Gulf Cooperation Council in June last year.

Read more at - www.theguardian.com/world/2017/jan/31/saudi-arabia-tax-approved-oil-revenues-slump

Publicerat av

Tony Harkén

nordafrika

Klockan i Tunisien, Nordafrika

TN - Time