Executive summary
On 26 June 2020, the Saudi Arabian government issued Royal Decree No. M/153 (RD M/153). The Decree exempts from income tax the direct and indirect investment of oil and hydrocarbon producing companies into Saudi Arabian listed companies and their subsidiaries. Oil and hydrocarbon companies with investments in Saudi Arabian listed companies and their subsidiaries should assess the impact of the change for financial and tax reporting purposes.
Detailed discussion
When the Incom…