Remarking on the fresh royal order to decrease taxes imposed on oil and hydrocarbon companies, working in the Kingdom, the Minister of Finance Mohammed bin Abdullah Al-Jadaan stated that the royal order contains, harbors a strategic outlook to best serve the interests of the Kingdom and to bring about prosperity, for the Saudis, as it aims at securing well-established national gains for the next coming generations. Pointing out, in this context, the minister said that the royal order would not bear a negative effect, whatsoever, on the state capability to provide the public with any service, adding that any decrease, in the revenues related to previously imposed taxes, on the oil and hydrocarbon oil producing companies, in the Kingdom, would be replaced by stable dividends from the state-owned companies and other fiscal inflows, paid to the government, including inflows resulting from investment profits. Al-Jadaan laid emphasis on the royal order for it backs Kingdom's stature as a world-wide leading investment destination, especially, for being compatible with the ambitious Kingdoms' Vision 2030.
