Saudi Arabia's Minister of Finance, Mohammed Al-Jadaan, has announced significant tax benefits for entities operating within special economic zones (SEZs) in the country.
Transactions between entities within SEZs or between different SEZs will receive a permanent exemption from value-added tax (VAT).
Additionally, a tax discount will be granted for a duration of 20 years within SEZs, allowing investors to plan for the long term.
Furthermore, the employer's social insurance tax will be permanently exempted, fostering a favorable business environment.
This announcement was made during the Saudi Special Economic Zones Investment Forum. It is noteworthy that Saudi Arabia has achieved positive ratings, distinguishing it as the only country to do so in 2023.
