Saudi Arabia issues 503 white land tax invoices in Dammam

Saudi Arabia’s housing ministry has issued 503 white land tax invoices for 105 million square meters of land in Dammam, state-run news agency SPA reported on Wednesday.

This number may be amended by the end of the 60-day objection period for taxpayers, or if the land is developed within 12 months, it was reported.

In November 2015, Saudi Arabia’s cabinet approved a proposal to impose a 2.5 percent tax on all undeveloped residential and commercial plots in urban areas, in a move to solve the housing shortage problem.

Land owners are required to pay the fees within one year from being issued the invoice, or develop the plots within the same period.

The Kingdom issued its first white land tax bill in Riyadh this March, housing minister Majed Al Hogail said on his official Twitter account.