Saudi Crown Prince Mohammed bin Salman has said that income tax will not be applicable in Saudi Arabia at any cost.
In a TV interview, Prince Mohammed bin Salman said that the 15% value-added tax is temporary, while the unemployment rate in Saudi Arabia will fall from 14% to 11% this year.
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Prince Mohammed bin Salman said that despite the global epidemic Corona, Saudi Arabia has the best success figures in all areas.
Prince Mohammed also said the kingdom aims to reduce unemployment to 11% this year. Unemployment among Saudi citizens fell to 12.6% in the fourth quarter of 2020 from 14.9% in the third quarter.
The government has been pushing through economic reforms since 2016 to create millions of jobs and reduce unemployment to 7% by 2030.
The plans were disrupted by the coronavirus crisis that sent oil prices plummeting last year.
