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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

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Demographic, organisational and resourcing issues are radically changing the global healthcare industry. Worldwide, we have a long and varied list of clients,...

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The changing healthcare landscape

Demographic, organisational and resourcing issues are radically changing the global healthcare industry; and we’re only just beginning to understand the impact of recent technological advances – in life science research, medical equipment, and the internet.

However, healthcare businesses are rising to the challenge. Public sector providers are looking for ever greater efficiencies. Healthcare payers are revising business models and becoming more responsive; and pharmaceutical, life science and health IT firms are taking advantage of the openings that change always brings.

In Saudi Arabia, the healthcare sector is evolving on the back of rapid advancements in technology, research and development (R&D) in line with global and regional trends. With projected increase in population this will continue to fuel the demand for healthcare in the Kingdom.

The government is encouraging private sector participation in the healthcare sector as the public sector’s role is transitioning to becoming a regulator, as opposed to a provider of healthcare facilities, as highlighted in the National Transformation Programme (NTP) and the privatisation plan.

Why Grant Thornton?

We’ve worked with all types of healthcare clients, including health IT, provider, payer, pharmaceutical and life science organisations. Worldwide, we have a long and varied list of clients, within both the public and private sector.

It’s given us a deep understanding of the unique issues facing the industry. It means we can help you navigate the healthcare world.

We offer a wide range of assurance, tax and advisory services. So, whatever challenge you face we have the breadth and depth to help you succeed.