Riyadh - Mubasher: King Salman bin Abdulaziz has approved extending some of the previously announced initiatives by the Saudi government to gauge the financial and economic effects caused by the coronavirus (COVID-19) pandemic for an additional period, Saudi Press Agency (SPA) announced on Thursday.
The step aims at aiding individuals, investors, and the private sector amid the ongoing circumstances while enhancing their role in developing the kingdom’s economy.
Under the new decision, Saudi employees working in private entities hit by the coronavirus will continue to benefit from the unemployment insurance (Saned).
The initiatives, moreover, include halt of fines related to manpower recruitment and postponement of import customs for 30 days given submission of a bank guarantee.
Payment of the value-added tax (VAT) via customs will be postponed pending approval and expatriates whose visas have expired will be given a partial exemption for one month from the expiry date. This latter initiative can be renewed for a similar period if necessary.
It is noteworthy that the kingdom has announced up to 142 emergency initiatives valued at more than SAR 214 billion since the COVID-19 outbreak.