With increasing oil and gas prices and an expanding non-oil sector, Saudi Arabia has been logging record trade surpluses in recent years, while securing government revenue for future investment. Saudi Arabia is expected to be among the fastest-growing economies in the G20 in 2022 – and the Kingdom was on track to fulfil that forecast by the middle of the year. Indeed, in the...
Saudi Arabia
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Articles & Analysis | How the Saudi economy is thriving amid global uncertainty from The Report: Saudi Arabia 2022
Vision 2030 includes social development initiatives to empower micro-, small and medium-sized enterprises (MSMEs) and citizens, promote entrepreneurship and widen access to financing.
The Guide contains listings of accommodation options throughout the country for both business and leisure travellers. Helpful information is provided on visa regulations and business etiquette, as well as public and private transport options for navigating the country during your stay.
Chapter | Legal Framework from The Report: Saudi Arabia 2022
In recent years Saudi Arabia has committed to a series of wide-ranging reforms that aim to diversify the economy; foster a more open and connected society; and establish a transparent, efficient and accountable government under the country’s Vision 2030 strategic framework. With those objectives in mind, there have been numerous legislative developments related to real estate, foreign...
Saudi Arabia’s income tax rules are governed by the Income Tax Law, which came into force in 2004. The Tax Law is supplemented by implementing regulations. Zakat (a payment under Islamic law that is used for charitable or religious purposes) is governed by the implementing regulations for zakat collection. The Ministry of Finance issues ministerial resolutions concerning aspects of tax and...
Chapter | Entertainment from The Report: Saudi Arabia 2022
The cultural and economic reforms undergone by Saudi Arabia since 2016 are perhaps most visible in the entertainment sector. For over three decades entertainment and cultural outlets, such as cinemas, art galleries and theatres, were banned. So too were artistic practices including film-making and live music. Since being elevated to a position of executive importance, however, Crown Prince...