Transport Minister says Riyadh’s integrated logistics zone to allow corporate tax, VAT exemption

Saleh Al-Jasser, Minister of Transport and Logistics Services

Riyadh’s Special Integrated Logistics Zone grants many privileges, Asharq TV reported, citing Minister of Transport and Logistics Services and Chairman of General Civil Aviation Authority Saleh Al Jasser.

These privileges include major tax advantages, including exemption from corporate tax to "zero tax" for a period of 50 years, exemption from VAT, deferment of customs duties, in addition to facilities related to employment.

These privileges will be provided to all investors, he said, expecting to create an added value of SAR 66 billion for the national economy until 2030.

Riyadh’s logistics zone possesses exceptional infrastructure in terms of integration, interdependence, and consideration of environmental aspects, in addition to an advanced legislative structure.

He indicated that Apple is the first major firm that invested in this region, and 20 other companies are in talks to invest in the region.

Riyadh’s Special Integrated Logistics Zone was designed in cooperation with major international companies, which include the largest 100 companies, in order to design a model commensurate with the needs and requirements of these companies.

According to data compiled by Argaam, Saleh Al-Jasser announced on Oct. 31 the launch of the Special Integrated Logistics Zone in Riyadh.