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KSA: Public Investment Fund (PIF) Emerges as Leading Global Investor in 2023
- 08.01.2024
- Posted by: Omar Sami
- Category: Saudi Arabia
No CommentsSaudi Arabia’s Public Investment Fund (PIF) has emerged as the top investor among its peers in 2023, with a 33% increase in investments over 2022, investing USD 31.6 billion across 49 deals.
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KSA: New Transfer Pricing Guidelines for Zakat Payers
- 25.12.2023
- Posted by: Omar Sami
- Categories: Saudi Arabia, Tax
The Zakat, Tax, and Customs Authority of Saudi Arabia has issued guidelines for Zakat payers, focusing on treating related-party transactions and aligning with the amended Transfer Pricing Bylaws effective from 01.01.2024.
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Saudi Arabia: 30-Year Tax Exemption for Companies setting up their Regional Headquarters in the Kingdom
- 12.12.2023
- Posted by: Uwe Hohmann
- Category: Saudi Arabia
Saudi Arabia is offering a 30-year tax exemption to global companies relocating their regional headquarters, aligning with Vision 2030 to diversify its economy and attract multinational corporations.
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The World Expo 2030 in Riyadh: An Attractive Destination for Entrepreneurs and Business Set Up in Saudi Arabia
- 29.11.2023
- Posted by: Omar Sami
- Category: Saudi Arabia
The selection of Riyadh as the host city for the World Expo 2030 marks a significant milestone in Saudi Arabia’s journey towards realising its Vision 2030. It is a perfect moment for a business set up in the Kingdom of Saudi Arabia.
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Saudi Arabia’s Trade Surplus On The Rise
- 23.11.2023
- Posted by: Omar Sami
- Category: Saudi Arabia
Saudi Arabia’s trade surplus reached 44 billion riyals in September, evidencing a 27.5% increase from August and showcasing the nation’s economic resilience.
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GCC’s Economy Positive Outlook: Opportunity for Entrepreneurs
- 21.11.2023
- Posted by: Uwe Hohmann
- Categories: Dubai, Saudi Arabia
The Gulf Cooperation Council (GCC) region’s economic transformation, emphasizing diversification and reducing reliance on oil revenues, is creating new opportunities for entrepreneurs and investors.
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The New Proposed Income Tax Law and the Zakat & Tax Procedures Law Published by ZATCA
- 17.11.2023
- Posted by: Omar Sami
- Category: Saudi Arabia
The Zakat, Tax, and Customs Authority (ZATCA) of Saudi Arabia has proposed updates to the Income Tax Law and Zakat & Tax Procedures Law, aiming to enhance tax regulation alignment with international standards, attract foreign investment, and stimulate domestic economic growth in accordance with Vision 2030.
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Unlocking Opportunities: Diriyah’s Transformative Journey
- 15.11.2023
- Posted by: Derya Bandak
- Categories: Legal, Saudi Arabia
The Diriyah Gate Development in Saudi Arabia, with a $10 billion investment unfolding in 2024, is set to transform Diriyah into a leading tourist destination, enhancing its UNESCO World Heritage status and boosting local and international business opportunities.
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Saudi Arabia Urges Companies to Relocate Regional HQs and Offers Incentives
- 14.11.2023
- Posted by: Omar Sami
- Categories: Legal, Saudi Arabia
Saudi Arabia is incentivizing foreign companies to establish their regional headquarters in the Kingdom by January 1st, 2024, with benefits such as a 10-year exemption from Saudization and lifted visa restrictions, to align with Crown Prince Mohammed bin Salman’s Vision 2030 initiative.
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Saudi Arabia Will Allow Foreign Law Firms to Consult on KSA Law
- 29.10.2023
- Posted by: Derya Bandak
- Categories: Legal, Saudi Arabia
The decree issued by the Council of Ministers in 2022 marks a significant shift in Saudi Arabia’s legal landscape, allowing foreign law firms to establish offices and provide consultancy on Saudi laws, thus fostering international collaboration and economic growth.
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