News Agency pratha 54 03/27/2017
Saudi Finance Minister, Mohamed Jadaan, said on Monday, the Royal Order, which would impose a gradual income tax on the oil sector companies (oil and hydrocarbon production) in Saudi Arabia based on the value of investments, it will not reduce government revenues.
He added Jadaan in a statement: "This is the holy holds in the dimensions of the strategic interests of the Kingdom and the well-being of their children, and preserve the national gains for future generations."
Jadaan confirmed that the Royal Decree will not have any negative impact on the state's ability to provide public services to citizens, following: "any reduction in taxes levied on companies producing oil and hydrocarbon materials operating in the Kingdom revenues will be offset by the distribution of stable profits by those state-owned companies , and other financial flows paid to the government, including the profits resulting from investment flows. "
For its part, the company "Aramco" oil giant Saudi tweets published on the front page official on the site "Twitter", which stated: "It is the royal tax imposed on Saudi Aramco, the rate of 85% is reduced to 50%, making it rank compatible with international rates this particular. "