Saudi Arabia Explores Income Tax, Asset Sales to Boost Finances

The video discusses Saudi Arabia's economic strategies, including assessing options for growth, directing revenue to targeted sectors, and providing liquidity to the private sector. It highlights the government's readiness to deploy more stimulus measures if needed, depending on COVID-19 developments. The video also covers the debate on taxation, with discussions on VAT and the potential introduction of an income tax.

What is the primary focus of the government's new initiatives?

• To increase short-term profits

• To assess options for long-term growth

• To reduce government spending

• To eliminate taxes

How is the government supporting the private sector during the pandemic?

• By reducing taxes

• By providing liquidity and salary support

• By increasing import tariffs

• By offering free training programs

What is the government's stance on deploying more stimulus measures?

• They have ruled out any further measures

• They are waiting to assess the economic needs

• They have already decided to deploy more

• They are focusing on tax reductions instead

What is a major challenge in implementing an income tax in Saudi Arabia?

• Lack of public support

• High compliance rate of VAT

• Time required to establish a tax base

• Insufficient government resources

Why is VAT considered an effective tool in Saudi Arabia?

• It is easy to implement and has high compliance

• It generates less revenue than income tax

• It is preferred by the public

• It requires less administrative effort