Saudi Arabia to waive foreign workers fees from industrial firms
Saudi Arabia will waive the fees required to industrial companies to pay for their foreign workers for a five-year period, easing private industrial firms’ burdens.
Businesses were mandated by the government since January 2018 to pay fees for their foreign workers in their firms, as the government tries to raise non-oil revenue and encourage private companies to get local workers. The foreign fees shouldered by the companies compounded to the value-added tax and subsidy cuts.
The mandate churned out negative effects as foreign laborers left the borders of Saudi and affecting the economy and impacting the unemployment rate as well.
The government announced on Tuesday that it will temporarily shoulder the fees for licensed industrial companies as confirmed by the official Saudi Press Agency.
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