Tax News Update    Email this document    Print this document  

May 14, 2024
2024-0969

Saudi Arabia relaxes requirements for companies hiring certain foreign nationals

On 11 April 2024, the Ministry of Human Resources and Social Development amended the Nitaqat regulations on the Qiwa platform, making it easier for employers to hire qualifying foreign nationals. Nitaqat is a nationalization program implemented by the Saudi government. Nitaqat requires Saudi companies to hire a certain number of Saudi nationals. The number of foreign nationals that a company can hire depends on its Nitaqat level (i.e., Platinum, High Green, Mid Green, Low Green and Red), which is based on the company's nationalization percentage (i.e., percentage of Saudi employees) and its total number of employees.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

* * * * * * * * * *
Attachment

Full text of Tax Alert

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2024, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement