The Council of Ministers in the Kingdom of Saudi Arabia is in the process of issuing a new Income Tax Law, Al-Wafd Newspaper reported. The said Law specifies the categories of natural or moral persons exercising their activities in the Kingdom and who are required to pay income tax.
The Law also defines the meaning of exercising activities in the Kingdom and determines the percentage that each person has to pay for the government.
The law will come into effect after 90 days of the date of its publication in the Official Gazette