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Saudi Arabia Provides Corporate Tax Exemption for Foreign-Owned Listed Oil Companies

|Approved Changes|Saudi Arabia
Saudi Arabia

Saudi Arabia has reportedly published an amendment to Article 2 of the Income Tax Law in the Official Gazette. The amendment provides an exemption from corporate income tax for companies held by non-Saudi persons that are engaged in oil and hydrocarbon production and are listed on the Saudi Stock Exchange. Further details of the exemption will be published once available.

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