By Innovation-sa on February 26, 2018 in News
The Council of Saudi Chambers (CSC) suggested eight amendments to the expat levy policy to uplift the private sector, during a meeting of CSC heads with Ali Al-Ghafis, Minister of Labor and Social Development.
Al-Ghafis granted permission to form a joint CSC and ministry committee to study the best policies to support the Kingdom’s private sector.
The suggestions made by CSC include a request to extend the deadline for expat levy from 2020 to 2025 and to exempt micro, small and medium businesses from expat levy during the first few years.
Abdullah Adeem, head of Hail Chamber of Commerce and Industry called for a study to evaluate the performance of businesses and implement Saudization accordingly rather than applying nationalization uniformly for various job sectors that may damage businesses in few sectors.
Thamer Al-Farshouti, head of Jeddah Chamber of Commerce and Industry Entrepreneurship Committee reminded that if the current policies are not updated soon, 25-30% of private enterprises are at a risk of shutting down soon. He suggested monthly payment of levy instead of annual payment.
Majed Al-Ruwaili, of Al-Jouf Chamber of Commerce and Industry, said the cumulative tax bill which the ministry plans to implement will adversely affect small and medium private sector establishments.