Corporate income tax rules are governed by the Income Tax Law (Tax Law), which came into force in 2004. The Tax Law is supplemented by implementing regulations (by-laws). The Ministry of Finance issues ministerial resolutions concerning aspects of tax and zakat, a payment under Islamic law that is used for charitable or religious...
Aided by easier and cheaper travel, global tourism has experienced two decades of almost uninterrupted growth. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687m to 1.57bn per annum.
Nestled between two seas and two continents, Saudi Arabia stretches over 2.1m sq km, an area as large as Western Europe. Its diverse landscapes offer a wide variety of scenery, while its rich history, culture and significance to Islam attract visitors from around the globe, making it one of the most visited countries in the world. However, the...
In February 2018 the Ministry of Health (MoH) announced plans to establish a holding company and five regional subsidiaries to enable privatisation of the sector. Under the plan, the MoH would transition to becoming a regulator rather than a direct provider of health services. The aim of the restructuring was initially to have 15 hospitals and...
Rising health care costs, ageing populations and changing lifestyles in emerging economies are stoking demand for medical technology (medtech) solutions. These entail not just smart devices that remotely monitor and transmit biometric data, but any instance of technology that helps to deliver health services. These initiatives are happening...
Saudi Arabia’s health sector currently faces a combination of demand-led growth and major structural change as the government seeks to privatise hospitals and other medical service providers. The interplay of these two forces is likely to influence the sector in the coming years.
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