Saudi Cabinet approves amending income tax law, extends some job categories terms

The Saudi Cabinet approved on Tuesday amending Paragraph "A" of Article No. (2) of the income tax law, with respect to taxpayers.

As amended, the persons subject to taxation include a resident capital company with respect to shares owned directly or indirectly by non-Saudi persons, and shares owned directly or indirectly by persons operating in oil and hydrocarbon production excluding:

-The shares owned directly or indirectly by persons operating in oil and hydrocarbon production in Saudi-listed resident capital companies and,

-The shares owned by these companies in capital companies