The Council of Ministers in Saudi Arabia, chaired by the Custodian of the Two Holy Mosques King Salman at the Iqrah palace in Riyadh, agreed to extend the exempt status of small businesses with a total of 9 workers or less, including the owner, from paying the financial fee for a period of 3 years, for one year after the referred period has expired.

On Tuesday, the Saudi Cabinet also extended the exemption period for small enterprises from paying financial fees by one year.

During its meeting, the Saudi Council of Ministers also agreed to suspend the automated system for identifying housing ownership, while reviewing several other issues on its agenda and taking necessary steps.

Saudi Arabia's Cabinet then reviewed its overall actions, both economically and politically, aimed at enhancing international cooperation in a variety of fields and developing more innovative solutions to global issues.

The Council of Ministers also emphasized Saudi Arabia's participation in the World Economic Forum (WEF) annual meeting in Davos, Switzerland, in 2023.

- Saudi Arabia during the World Economic Forum highlighted the progress made within Saudi Vision 2030 regarding reaching a thriving and diversified economy to unlock scopes of cooperation with the world, as well as the Kingdom's active contributions and international initiatives to maintain global economic stability, preserve the environment and limit climate change.

The meeting saw the signing of understandings between the two countries and the utilization of various opportunities.

As well as following regional and global developments, the Saudi Cabinet reaffirmed Saudi Arabia's call for dialogue, tolerance, and coexistence and rejecting the causes of hatred and extremism.

SOURCE : SAUDI EXPATRIATES