Government fee refunds deposited into SMEs accounts

Refunds of government fees have started to be deposited into the accounts of the eligible small and medium enterprises (SMEs), sources told Argaam.

The move comes under the Small and Medium Enterprises General Authority’s (Monsha’at) initiative, in cooperation with the Local Content and Private Sector Development Unit (Namaa).

Last year, Monsha’at said that a SAR 7 billion plan to refund government fees to SMEs, under the private sector stimulus package, will ensure the return of up to 80 percent of taxes imposed on expatriates.

The initiative seeks to support, empower and ease the burdens of SMEs from the fees imposed by various regulatory sectors during the first three years of inception.