Cabinet OKs Non-Oil Revenue Center regulation, amends state fiscal year

Part of the Cabinet meeting

Saudi Arabia’s Cabinet, during a session chaired by Crown Prince Mohammed bin Salman in Jeddah today, approved the regulation of the Non-Oil Revenue Center.
 

The Cabinet also gave a nod to amending the start of the state’s fiscal year, to begin on January 1 and end on December 31.
 

Moreover, the Cabinet took several other decisions, including the approval of the National Framework for Physical Security and Safety, and continuation of the state bearing the temporary work visa fees for seasonal workers in the Hajj and Umrah sacrifice project for the 1447H Hajj season.
 

The Cabinet also approved a Memorandum of Understanding between the Saudi Ministry of Investment and the Bahraini Economic Development Council to promote direct investment, and an agreement between Saudi Arabia and Bahrain to avoid double taxation on income and prevent tax evasion.