Breaking : Crown Prince There will be no income tax at all and the maximum value-added tax is imposed at 15% for 5 years

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Today, Tuesday, Crown Prince Mohammed bin Salman reviewed some of the features of the current working mechanism used to implement Vision 2030.

He explained, during his meeting on the occasion of the 5-year anniversary of the launch of Vision 2030, that the 15% tax decision is temporary, indicating that it will not last more than 5 years, and he denied that there is an intention to impose an income tax in the Kingdom in the future.

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He explained that the Kingdom aspires to “Aramco” to be able to convert 3 million barrels for downstream industries by 2030, thus contributing to the Kingdom’s benefit from all its resources.

Source : Saudi News

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