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Check out this stunning cityscape of Saudi capital Riyadh captured by Harri Jarvelainen Photography. Isn’t it beautiful?
In the latest news, Saudi Arabia just announced an enticing 30-year tax exemption package for foreign companies setting up their regional headquarters in the kingdom! As part of this program, companies will enjoy a 0% corporate tax rate for 30 years. Pretty amazing, right?
The move has certainly raised some eyebrows and sparked controversy, especially after the kingdom made it clear that companies not based in Saudi Arabia by 2024 would be prohibited from doing business with state entities. What do you think about this controversial ultimatum?
Despite the attractive tax incentives, many foreign investors are still not convinced about relocating to Saudi Arabia. It’s understandable, given the perceived challenges of adapting to the country’s conservative culture. However, the kingdom has been working on addressing these concerns by licensing more than 200 companies to operate their regional head offices in Saudi Arabia and even attracting international K-12 schools to set up campuses in the country.
It’s a lot to consider, but if you want to learn more about this tax relief plan and its impact, read the full story here.