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Blog The Role of Tax in Driving Saudi Arabia’s Non-Oil Economy: Unlocking Opportunities in Emerging Sectors

In recent years, the Kingdom of Saudi Arabia (KSA) has embarked on a transformative journey to diversify its economy, reducing its dependence on oil revenues. With Vision 2030 as a guiding framework, the nation actively explores opportunities across various non-oil sectors, such as technology, tourism, and logistics. Tax policies and incentives are central to this ambitious agenda, and they are increasingly seen as pivotal tools for stimulating growth and attracting investment in these emerging sectors. This article examines how the Kingdom's tax landscape is evolving to support its non-oil economy and unlock opportunities for domestic and foreign investors.

| 4 min read | 08 Nov 2024

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Zakat and Tax

Our experienced tax team not only support core compliance but are at the leading edge of transformation and operational resilience in respect of the tax...

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INTERNATIONAL BUSINESS REPORT (IBR)

Women in business: beyond policy to progress

08 Mar 2018

Beyond policy to progress

The last year has seen global business take one step forward but one step back when it comes to gender diversity in leadership. The percentage of businesses around the world with at least one woman in senior management has increased significantly, rising from 66% in 2017 to 75% in 2018. However, at the same time the proportion of senior roles held by women has marginally declined.

This suggests that businesses may be focused on ticking the ‘diversity’ box to avoid an all-male leadership team, rather than creating an inclusive culture that leads to a genuinely diverse senior management team. Given this trend, Grant Thornton’s International Business Report (IBR) research set out to understand the role of policy in bringing about positive change and in countering cultural norms and unconscious bias that can hinder progress.

We find that business policy is abundant but the more policies a business has in place does not necessarily lead to that business having greater gender diversity. Policy alone, it seems, does not create real progress.

Complexity in translating good intentions into practice, and the presence of stereotypes about gender roles, are still barriers to progress. Many business leaders want their government to do more to address gender inequality in business leadership however the majority believe businesses and governments need to work collaboratively to solve the problem.

If policy is not driving more women to the top, despite widespread use, then what will?

Interviews we conducted with business leaders around the world suggest that the businesses creating real change are those whose policies and practices are rooted in a genuine conviction of the benefits of diversity. Therefore, we include a set of recommendations for business leaders in this report, outlining practical steps to drive change and increase gender diversity in business.

For more information and further details download Women in business: beyond policy to progress [ 10047 kb ].