Wednesday, January 25, 2023
Exemption of companies with 9 or less workers from paying Financial fee for 3 years
The Council of Ministers in Saudi Arabia, chaired by the Custodian of the Two Holy Mosques King Salman at Iqrah palace in Riyadh, agreed to extend the exemption of small companies with a total of 9 workers or less, including the owner, from paying the financial fee for a period of 3 years, for a period of 1 year from the date of expiry of the referred period.
The Saudi Cabinet on Tuesday also extended the exemption period for small enterprises by one year, from the date of expiration, from paying the financial fee. Read : Employers must complete data of expat workers - GOSI
- The Saudi Council of Ministers also agreed in its session, to suspend the work of the automated system for identifying housing ownership, while reviewing several other issues on its agenda and took necessary steps regarding them.
- The Saudi Cabinet then reviewed the Kingdom's overall actions, both politically and economically, which aimed at strengthening international cooperation in various fields and finding more innovative and joint solutions to address global challenges.
- The Council of Ministers also underlined the content of Saudi Arabia's participation in the World Economic Forum (WEF) annual meeting 2023 in Davos, Switzerland. Recommend : Extending working hours beyond the work contract is a violation of Law
- During the World Economic Forum, Saudi Arabia highlighted the progress achieved within Saudi Vision 2030 concerning reaching a thriving and diversified economy to unlock scopes of cooperation with the world, and the Kingdom's active contributions and international initiatives to support the stability and growth of global economy, preserve the environment and limit climate change.
- The meeting saw the agreements of understanding between two countries and take advantage of the available opportunities in different fields. See Also : Employers responsible for changing iqama profession of expat workers
- The Saudi Cabinet also followed the developments regionally and globally, reiterating Saudi Arabia's position calling for spreading the values of dialogue, tolerance and coexistence and rejecting the causes of hatred and extremism.
