RIYADH: Saudi Arabia’s finance minister said on Sunday that a decision to triple value-added tax to 15% would not be reconsidered in the short to medium term, but might be looked into in the long term.
Speaking at a news conference closing the two-day G20 online summit, Mohammed al-Jadaan said the VAT decision had been “difficult” but a necessary option to support the economy. Last week, acting information minister Majid bin Abdullah al-Qasabi said the kingdom could review its VAT increase after the novel coronavirus pandemic ends.—Reuters
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