The public sector of Saudi Arabia compensate for the price increase
The government of Saudi Arabia decided to pay compensation to workers of the budgetary sphere over imposed taxes and rising fuel prices.
King Salman ordered the payment of state employees each month more than 260 dollars for 2018.
Earlier in the Kingdom almost doubled the price of gasoline. Also introduced was a five percent value added tax on most goods and services, including food and utility bills in the context of the country’s economic reforms.
Saudi authorities intend to reduce their oil dependence because of the recent surges in oil prices.
United Arab Emirates (UAE) also introduced a five per cent VAT.
According to the Royal decree of Saudi Arabia, from VAT will be exempt citizens who have private health insurance or paying for their education; also, the state will assume the cost of paying the tax on the purchase of the first property.