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This chapter contains an outline of the tax system including an introduction to overall system, an overview of corporate income tax, and an explanation of Zakat rules. In addition, there is an explanation of the regulations introduced by the New Income Tax Law. The chapter also contains an overview of the regulatory environment for potential investors. This chapter contains a viewpoint from Jacques Fakhoury, KSA Country Leader, PwC.

Recognising the important role of tourism in achieving the wider goals of development in Saudi Arabia, including job creation and increased economic diversity, considerable efforts are being made to expand the industry. A new Umrah Plus visa allowing for longer stays after religious pilgrimages has been introduced and, in combination with a focus on expanding and rehabilitating heritage and historic sites, this should help to boost visitor spending. PPPs are targeted as the preferred method for boosting private sector involvement in the sector. This chapter contains an interview with Prince Sultan bin Salman bin Abdulaziz 
Al Saud, Chairman and President, Saudi Commission for Tourism and Antiquities.

Education is at the heart of an ambitious agenda to diversify Saudi Arabia away from reliance on hydrocarbons and transform it into a knowledge-based economy by 2025. With this in mind, the Kingdom has stepped up investment in the education sector and in the young people who will be expected to drive that new economy, but policymakers face the challenge of rapid population growth. However, considerable efforts are being made to ensure that training and education focuses on equipping young Saudis with the necessary skills to fill gaps in the job market. This chapter contains an interview with Ahmed bin Abdullah Al Shoaibi, 
Director-General, Institute of Public Administration.

Saudi Arabia is one of the largest producers and exporters of agricultural goods in the region and is self-sufficient in a number of areas, including milk, eggs and dates. The sector has seen a notable shift towards higher-value and less-water-intensive crops, and a gradual phasing out of domestic wheat production in favour of imports. Efforts are also being made to boost aquaculture and fisheries, as well as acquire land abroad to help ensure food security. This chapter contains an interview with Fahd Balghunaim, Minister of Agriculture.

Buoyed by prolonged government stimulus, Saudi Arabia’s construction industry, the second-largest sector in the economy after oil, is experiencing rapid expansion, with no shortage of contracts in any segment. From housing and utilities to transport infrastructure, public spending is driving the contracting industry forward. While operational challenges remain, including concerns over the tightening of labour regulations, contractors are likely to benefit from favourable conditions for the foreseeable future.