The Minister of Finance brings good news regarding value-added tax • Al Marsad Newspaper

Al-Marsad newspaper: Finance Minister Muhammad Al-Jadaan said that the Kingdom’s policy towards financial sustainability will ensure that reserves do not fall below a certain percentage of GDP.

“We are in the final stages of designing our financial sustainability policy,” Al-Jadaan told on the sidelines of the World Economic Forum in Davos.

Al-Jadaan added that Saudi Arabia would “ultimately” discuss reducing the value-added tax rate, which was raised in 2020, to 15 percent.

“We will eventually discuss reducing the value-added tax, but for the time being we are still trying to make up for the shortfall in reserves,” he added.

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