Saudi finance minister reassures public on taxes

Uncategorized Faizah Kamal 10-Dec-2019

The Saudi finance minister, Mohammed Al-Jadaan, pledged that there would be no more taxes or fees introduced in the Kingdom until the social and economic impact of such a move had been completely reviewed.

Al-Jadaan was speaking at the 2020 Budget Meeting Sessions, coordinated by the Ministry of Finance, in Riyadh on Tuesday. Several ministers and senior officials congregated after the publication of the budget on Monday evening.

The government expects to generate about SR203 billion in taxes this year – over 20.5 percent higher than the preceding year.

The Ministry of Finance has made public expenditure more efficient and reduced public spending without compromising the quality of services, Al-Jadaan said.