Saudi Arabia Extends Government Initiatives to Mitigate the Impacts of COVID-19 on Economic Activities

With several measures initiated by the Government of Saudi Arabia set to expire in July 2020, King Salman bin Abdulaziz Al Saud, Ruler of Saudi Arabia, has released a Royal Decree extending a range of policy measures for a longer period. This will aid in better benefitting from the initiatives that have been implemented since the beginning of the COVID-19 pandemic.

According to local media reports, these initiatives concentrate on helping Saudi employees, suspending fines and deferring payment of other government service charges. Deferring the payment of Value Added Tax (VAT) for a period of two months, as well as expediting the payment of VAT refund requests, are both included in the initiatives announced by the Governm...