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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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IFRS

Interim consolidated financial statements 2020

28 Nov 2019

The member firms within Grant Thornton International Ltd (GTIL) have extensive expertise in the application of IFRS. GTIL, through its IFRS team, develops guidance that supports its member firms’ commitment to high quality, consistent application of IFRS and is pleased to share these insights by publishing ‘Example Interim Consolidated Financial Statements 2020'.

The Interim Financial Statements [ 291 kb ] [ 291 kb ] illustrate a six month accounting period beginning on 1 January 2020. They are based on the activities and results of Illustrative Corporation Ltd and its subsidiaries (the Group) – a fictional consulting, service and retail entity that has been preparing IFRS financial statements for several years. The Group produces half-yearly interim financial reports in accordance with IAS 34 ‘Interim Financial Reporting’ at 30 June 2020.

Download IFRS Example Interim Consolidated Financial Statements 2020 [ 291 kb ] [ 291 kb ]

The Interim Financial Statements have been reviewed and updated to reflect changes in IAS 34 and in other IFRS that are effective for the year ending 31 December 2020.

To discuss your financial statements or any challenges you have implementing IFRS please contact our team.

Download PDF [291 kb]

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Interim consolidated financial statements 2020

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Interim consolidated financial statements 2020

Navigating the changes to IFRS for CFOs

Audit and Assurance