Saudi Government is considering to bring VAT back to 5% after Corona

For the latest updates, you can join our WhatsApp group. or SnapChat

The Minister of Commerce and the Minister of Information in charge, Dr. Majid Al-Qasabi, confirmed that the decision to raise the value-added tax was not taken easily and was very difficult, indicating that it would be reviewed if the crisis ended and the economic cycle returned to normal.

In the regular press conference for government communication, which was held to implement the directives of Crown Prince Mohammed bin Salman, he said that the decision to raise the value-added tax was not taken easily, and in numbers, the state employees’ wage bill was half a trillion riyals, in addition to many obligations, all these sums were not covered by revenues Oil.

Trending: End of Service Benefits in Kingdom of Saudi Arabia (KSA)

Al-Qasabi added that when the value-added tax was raised, the goal was not to prejudice salaries or allowances, and the state chose this option to help face the problems of weak revenues.

He pointed out that in the future, the economic cycle will improve, and oil will return to what it was, and the decision, like any other decision, is reviewed when the crisis ends.

Also Read: FLIGHT TO SAUDI ARABIA; THE EFFORTS OF THE INDIAN EMBASSY ARE PROGRESSING BY GIVING HOPE TO THE EXPATRIATES

Join us on Telegram