Shoura Council to debate on Expat Remittance Tax

The Shoura Council said that it would continue discussing the proposed draft regulation on levying expatriates’ remittances.

The draft proposal was presented by former Shoura member Dr. Husam Al-Anqari.

The announcement was made in the wake of the statement which was issued by the Ministry of Finance, refuting alleged plans to impose fees on remittance.

“The ministry’s denial issued has nothing to do with the Shura Council”, said Financial committee member Dr. Muhammad Aal Abbas.

“The Shoura Council is an independent body and the discussion on expat remittances comes under its jurisdiction”, he added.

The proposal suggests levying 6% of the remittance value to be deducted as fees in the first year of an expat worker’s income in Saudi.

The percentage decreases annually till it reaches 2% in the fifth year and onwards of an expat worker’s stay in Saudi Arabia.

“The aim of the proposal is to encourage expat workers to spend in Saudi Arabia so as to help develop the level of services provided to them by the government”, he said.