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The General Authority of Zakat and Tax (GAZT) urged Value Added Tax (VAT) registered establishments with more than SR40 million turnover annually to file their tax returns on a monthly basis, while those with an annual turnover equal to or less than SR40 million should file tax returns every three months. Enterprises whose supplies of […]

Saudi Arabian General Investment Authority (SAGIA) has reduced the average time required to issue investment licenses from 53 hours to less than 4 hours. The recent initiatives undertaken by SAGIA to restructure the processes, reduce the number of documents required, and train and qualify cadres has contributed to this notable progress. The restructured processes include […]

Saudi Minister of Labor and Social Development Dr.Ali Al-Ghafees announced on Monday the Saudization of 12 new sectors starting from September this year. Khaled Aba Al-Khail, official spokesperson for the Ministry, said the ministerial decree was issued as the Kingdom strives to provide more employment opportunities for Saudis in the private sector and reduce the […]

Saudi Arabia’s Minister of Justice Waleed Al-Samaani issued a statement on Monday granting permission to lawyers from all Gulf Cooperation Council (GCC) countries to practise law in the Kingdom. The updated executive regulations of the Kingdom’s legal system stipulate that for a foreign law firm to complete its registration in the Kingdom, each of its […]

The Saudi Commission for Tourism and National Heritage (SCTH) stated that the rules and regulations regarding issuance of tourist visas to Saudi Arabia will be published by the end of March and any media reports being circulated regarding the requirements, details and nationality specifications are mere speculations and mostly based on discussions that have not […]

Saudi Arabia strengthened its 60-year-old trading relationship with Japan on Sunday by granting three investment licenses to Japanese companies and signing six Memoranda of Understanding (MoUs) with Japan in the fields of finance, administration, renewable energy, scientific and technological services, and industrial sector. The MoUs were signed at the Saudi-Japanese Business Forum, a forum organized […]

Saudi Aramco’s Chief Executive Officer Amin Nasser announced that the state-owned oil giant’s initial public offering (IPO) is on track for the second half of this year. However, Aramco is awaiting the government’s decision regarding the listing of venue. The government will decide where the stock will be traded, not the company, Nasser told reporters […]

Jeddah Economic Company (JEC) has signed an infrastructure deal worth SR 620 million with Al-Fouzan General Contracting Company on Tuesday for the infrastructure development of Jeddah Tower and Jeddah Economic City around it. According to the contract, Al-Fouzan General Contracting Company will complete the scheduled infrastructure work within a year. The project, earlier named as […]

The Council of Cooperative Health Insurance announced that hospitals can provide treatment to patients seeking immediate medical attention even before obtaining approval from insurance companies. However, hospital authorities should inform the insurance companies within 24 hours of receiving a medical case. Insured citizens must be familiar with the policies of insurance companies, well versed about […]

The Saudization of car rental sector will commence on March 18, 2018, announced Khaled Abu Al-Khail, spokesman of the Ministry of Labor and Social Development. The owners of car rentals are advised to complete Saudization before the deadline to avoid penalties. Once completed, the initiative is expected to generate some 200,000 part-time and full-time jobs […]