CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: DR. KHALID BIN MUBARAK AL-SHAFI

Business / Middle East Business

Saudi Housing Ministry says imposes annual tax on undeveloped lands

Published: 09 May 2016 - 12:00 am | Last Updated: 03 Nov 2021 - 12:15 pm
Peninsula

 

RIYADH: Saudi Arabia's Housing Ministry said on Sunday it would impose an annual tax on undeveloped lands. 

The ministry said on its twitter account the tax would be equivalent to 2.5 percent of the value of the land held by individuals or non-government entities. 

Reuters

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