RPM reported net profit of Dh49.39 million during 2023
business2 hours ago
Expats in Saudi Arabia better be ready to fork out a little extra money as the country is set to introduce an 'expat levy' this 2017. Information about the new law was confirmed during last Thursday's budget announcement, Arab News reports.
Companies who are currently paying SR200 per month for every expat employee are now going to pay amounts upwards SR800. The law only applies to companies who hire more expats compared to Saudi nationals.
The move was in a bid to ensure that more Saudi nationals get jobs in comparison to their expat counterparts.
The same report also states that from next year onwards, the levy will gradually increase for expats to encourage companies to hire more Saudis. For companies on the other end of the spectrum who hire more Saudis than expats, the fee will be discounted and no longer waived.
Fee for the dependents of expat workers are also slated to take effect by July 2017 so as not to shock families who currently have children enrolled in schools around the region. The fee for dependents is SR300.
Arab News also quotes the Saudi Finance Minister telling reporters that the new fee will not affect domestic workers such as drivers and cleaners.
RPM reported net profit of Dh49.39 million during 2023
business2 hours ago
Emerging economies’ bloc ditches greenback in $260b worth trade
economy2 hours ago
National security spokesperson to continue pressing for a temporary ceasefire that Washington wants to last for at least six weeks
mena2 hours ago
It was RCB's third win — and second in a row — in 10 matches so far this season, keeping their slim hopes of reaching the playoffs alive
cricket2 hours ago
Offshoring business operations to captive centres has proven to be a cost-effective and efficient strategy
realty2 hours ago
Tourism minister Ahmed Al Khateeb says all the kingdom's projects are far away from the conflict
mena2 hours ago
A wave of exceptionally hot weather has blasted the region over the past week, sending the mercury as high as 45 degrees Celsius
asia2 hours ago
This was following a Reuters report that some senior US officials did not find Israel's assurances credible
world2 hours ago