Riyadh – Mubasher: Saudi Shoura Council will discuss on Tuesday imposing a 6% tax on the remittances of the expats in the first year, so as to gradually decrease to 2% by the fifth year onward.
Hossam Al-Anqari, head of the General Auditing Bureau and former member of the Shoura and who submitted the tax proposal, said that the move came after annual remittances rose from SAR 57 billion in 1426 Hijri to SAR135 billion in 1435 Hijri.
Saudi media platforms reported earlier that the proposed system will consist of 12 articles and aims to encourage the expats in the Kingdom to spend or invest their savings inside KSA and to stop them from practicing additional works to get more irregular income.
