U.S. Warns Saudi Arabia Its Tax Regime May Drive Firms Away
- Embassy in Riyadh writes to Saudi Ministry of Investment
- U.S. points to ‘serious’ problems and a lack of transparency
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The U.S. has criticized Saudi Arabia’s tax authorities and warned that disputes with foreign companies risk discouraging investment in the country.
“Numerous multinational enterprises” operating in Saudi Arabia “have experienced tax issues exhibiting a lack of transparency, consistency and due process compared to what they have come to expect from other nations,” the U.S. embassy in Riyadh said in a letter to the Saudi Ministry of Investment.