Cabinet approved yesterday implementing tax exemptions for industrial inputs, statenews agency SPA reports. The decision follows the Gulf Cooperation Council’s Financial and Economic Cooperation Committee’s adoption of a final draft of amended controls for the exemption of industrial inputs from tax in October last year. No further details were provided on the timeline for implementation or the scope of the exemptions.

And new names for two gov’t bodies: The Saline Water Conversion Corporation will now be known as the Saudi Water Authority, while the Water & Electricity Regulatory Authority will be renamed the Saudi Electricity Regulatory Authority.

Also approved at yesterday’s Cabinet meeting:

  • A cooperation agreement between the government and Jordan on energy;
  • An MoU between the Energy Ministry and its counterpart in Brazil;
  • An MoU between the Industry and Mineral Resources Ministry and Morocco’s Energy Transition and Sustainable Development and another similar MoU on mining with Japan’s Economy, Trade and Industry;
  • An MoU on cooperation between the Saudi Central Bank (Sama) and Qatar Central Bank;
  • Joining the Geneva Act of the Hague Agreement Concerning the International Registration of Industrial Designs.
Tags: