Saudi Arabia’s cabinet has decided to set up a committee to review the results of the scheduled application of the white land fees and to submit related suggestions along with an annual report, Saudi Press Agency (SPA) reported.
Finance minister Mohammed Al-Jadaan will head the committee, which will also include ministers of state, commerce and investment, and housing, in addition to Fahd Al-Skeit, advisor of the cabinet’s secretariat.
Saudi Arabia introduced a tax on undeveloped land in June last year, aimed at tackling land hoarding and restoring balance to the property market.
The Kingdom issued its first white land tax bill in Riyadh in March this year.
Comments
{{DisplayName}}
{{ElapsedTime}}