Carousel

Sponsored Links
SEARCH THIS SITE
JBSOLIS is a site for overseas Filipino workers, health and insurances, OWWA, PAG-IBIG, bank and cash loans, foreclosed properties, small house designs, local and overseas job listings.
Advertisement

Saturday, January 06, 2018

Some Sector in Saudi, Exempted from VAT; Military Personnel to Have Monthly Allowances!

The Custodian of the Two Holy Mosques announced that the whole government staff and military personnel will receive SR1,000 per month as a cost of living allowance. This allowance will be given for a period of one year. Military personnel serving at Yemen frontline will get a much bigger payment of SR5,000.  Aside from the allowances, Saudi civic and military personnel will be given an annual bonus starting this year. It said that the bonus should be given effective January 1, 2018.   It was Crown Prince Muhammad Bin Salman, deputy premier and minister of defense who recommends for the new allowances.
Starting January 1, 2018, five percent Value Added Tax (VAT) is already implemented in the Kingdom of Saudi Arabia, but less than a week after the implementation, King Salman announced that some of its citizens will be exempted from the VAT.
Advertisements


The Custodian of the Two Holy Mosques announced that the whole government staff and military personnel will receive SR1,000 per month as a cost of living allowance. This allowance will be given for a period of one year. Military personnel serving at Yemen frontline will get a much bigger payment of SR5,000.

Aside from the allowances, Saudi civic and military personnel will be given an annual bonus starting this year. It said that the bonus should be given effective January 1, 2018.

It was Crown Prince Muhammad Bin Salman, deputy premier and minister of defense who recommends for the new allowances.

Sponsored Links

King Salman also ordered the state to unify the disbursal of salaries to all government staff.

He also announced that some citizen groups will be receiving an allowance and will be exempted from paying VAT. This includes pensioners that will receive SR500 per month in the span of one year. The allowance will be added to their pension that being distributed by the Public Pension Agency and the General Organization for Social Insurance (GOSI).

Aside from this, King Salman also ordered 10 percent increase in stipend or allowances for Saudi students, both boys, and girls for a year.
Advertisement




Also under the Royal Decree of the King, a first house bought by a Saudi citizen that will not exceed SR850,000 will be tax-exempted.

Saudi citizens who are beneficiaries of private health and private education services will b also exempted from tax. It said that the state will be the one to shoulder the tax of the above-mentioned people.

Therefore this few sector of citizens in Saudi Arabia will still enjoy the tax-free living for a while. Saudi Arabia imposes a five percent of VAT to almost all goods and services to generate income to counter the effect of decreasing oil prices.


SEE MORE:


©2017 THOUGHTSKOTO

SEARCH JBSOLIS, TYPE KEYWORDS and TITLE OF ARTICLE at the box below