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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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We have the scope, depth, and global reach to serve businesses who are positioned to thrive in Saudi Arabia. Our team provide you with assurance services that...

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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

IFRS News Q4 2018

06 Nov 2018

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

Download the latest edition IFRS News Q4 2018 [ 324 kb ]

In this edition of IFRS News

We begin this final edition for 2018 with an article on the recently issued IASB publication ‘Definition of Material – Amendments to IAS 1 and IAS 8’, before turning to some topical issues. These include regulators’ views on IFRS 9 and IFRS 15, reverse factoring, and issues related to the discontinuance of LIBOR and other inter-bank offer rates.

Further on in the newsletter, you will find IFRS-related news at Grant Thornton and a general round-up of financial reporting developments. We finish with a summary of the implementation dates of newer Standards that are not yet mandatory, and a list of IASB publications that are out for comment.

If you would like to discuss any of the topics raised in the newsletter please contact our Grant Thornton team.

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IFRS

IFRS News Q4 2018

In this edition of IFRS News

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