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FINANCIAL NEWS
Tax cut for foreigners who employ Saudis
23 Mar 2011
(MENAFN) Governor of Saudi Arabia General Investment Authority (Sagia), Amr al Dabagh, said that foreign companies would get a tax reduction along with other financial incentives if they provide training for Saudi nationals in remote regions of the kingdom, reported the National.
Al Dabagh said that this goes along with the Kingdom’s strategic goal of attracting foreign investment to remote Saudi areas that have high rates of unemployment and poverty.
Al Dabagh explained that tax reductions as well as other incentives would be granted to any company that employs nationals or sets up research programs in the less fortunate areas of the country.
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