Today, Thursday, the Saudi Minister of Information Majid bin Abdullah Al-Qasabi revealed that Saudi Arabia will reconsider increasing the value-added tax after the end of the emerging Corona virus pandemic.
Minister Majid bin Abdullah Al-Qasabi said during a press conference that the decision to increase the tax to three times earlier this year was “painful”.
Last May, the Saudi government announced an increase in the value-added tax rate from 5% to 15%, starting from July 1, 2020.
The minister added that consumer protection is a top priority for the state, and we will not allow the weak-minded to exploit the economic repercussions.
Al-Qasabi said that the state will strike with an iron fist by anyone who manipulates prices.
He added that Saudi Arabia will be one of the first countries to obtain the Corona vaccine, noting that the Kingdom has written a success story during the Corona pandemic. He stressed that Saudi Arabia, “and with the testimony of international bodies, is one of the most successful countries in facing Corona.”
He noted that Saudi Arabia had added, within 4 months, 4,000 intensive care beds.
He indicated that 9 million examinations and 12 million medical consultations were performed.
He added that the Kingdom has set the unemployment file as one of its priorities, and said: “Increasing employment rates are the top priority of the government. Work has begun according to Vision 2030 to reform the labor market and provide more jobs for male and female citizens, and Vision 2030 has set an unemployment rate of 7% in the year 2030. As one of its goals. ”
“During the year 2018, the unemployment rate reached approximately 13%. Due to the increase in the efficiency of government agencies and the investments of the Public Investment Fund and other government programs and initiatives, we saw the unemployment rate drop successively to 11.8% at the beginning of 2020. We will be at the end of 2020 one of the lowest countries,” he said. Affected by the Corona pandemic in the G20, in which the unemployment rate has increased in some to 15% and 20% and more, and we believe that the programs and policies set by the government will enable us to achieve an unemployment rate of 7% before 2030. ‘
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