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Stories by Saudi ArabiA on Monday reduced the tax rate for Saudi Aramco as plans move forward to publicly list shares of the state-owned oil giant.

Aramco tax rate cut to 50% ahead of IPO

Published:Monday | March 27, 2017 | 12:00 AMSaudi ArabiA on Monday reduced the tax rate for Saudi Aramco as plans move forward to publicly list shares of the state-owned oil giant.

The new code, rolled out by royal decree from King Salman, taxes Aramco at 50 per cent on income retroactively, starting January 1.Aramco CEO Amin Nasser thanked the king in a statement for the decree reducing the company's tax rate from what he...

Subscribe to Saudi ArabiA on Monday reduced the tax rate for Saudi Aramco as plans move forward to publicly list shares of the state-owned oil giant.