KSA triples VAT amid COVID-19

The Kingdom of Saudi Arabia has announced that it will increase its VAT rate to 15% with effect from 1 July 2020. This is a result of the pressures upon the KSA economy from the very low oil prices and diminished VAT revenue caused by the COVID-19 emergency measures. The relief measures announced by the…

Saudi Ministry of Labor Decision to Regulate Contractual Relationship Between Employers and Their Employees

The Saudi Arabian Ministry of Labor and Social Development approved the reduction of working hours, or any other precautionary measures that limit the effects of the pandemic. This decision is aimed at limiting the application of the Labor Law in relation to employers severing the contractual relationship due to Force Majeure. These measures will be…

Saudi Arabia Announces USD 31.9 Billion Stimulus Package to Mitigate the Economic Crisis Caused by the COVID-19 Outbreak

The Saudi Arabian government has recently announced a SAR 120 billion (USD 31.9 billion) financial stimulus package to mitigate the economic effects of the COVID-19 outbreak in the Kingdom. This stimulus package is made up of SAR 70 billion (USD 18.6 billion) to support the private sector and central bank’s SAR 50 billion (USD 13.3…

KSA – The Premier Hub for Startups in MENA by 2030

Context One of the key strategic aims of Saudi Arabia’s Vision 2030 is to shift its oil-dependent economy to a knowledge-based economy. This multifaceted endeavor involves an extensive web of interweaving projects, initiatives and funds geared towards achieving this ambitious and important aim. Vision 2030 has identified the proliferation and success of small and medium…

Staying Connected in KSA

A review of the legal and regulatory framework governing the licensing and importation of telecoms equipment in Saudi Arabia. The telecommunications sector is a vital component of any economy and has gained further significance in this digital era where commercial and financial transactions of all sorts rely primarily on effective and efficient telecommunications networks, infrastructure and equipment.…