Saudi Arabia offers new tax incentives to lure regional HQs

05/12/2023 Argaam

Saudi Arabia offers new tax incentives to lure regional HQs

Riyadh city

Saudi Arabia’s Ministry of Investment announced today, Dec. 5, offering a new package of tax incentives for 30 years to attract regional headquarters (HQs) of global firms. The move aims to encourage and facilitate the measures of opening regional HQs in the Kingdom.  

 

The decision was taken in coordination with the Ministry of Finance and the Zakat, Tax and Customs Authority (ZATCA).  

 

The tax exemption package for regional HQs includes a zero percentage of income tax on regional headquarters entities, and withholding tax for approved activities of regional headquarters of international companies. These companies will benefit from the tax exemption package from the date of issuance of the regional headquarters license, the state-run SPA reported.

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