RIYADH: Saudi Arabia may allow foreigners to invest in self-employed professions in return for paying taxes at an estimated annual rate of 20 percent in a bid to curb commercial cover-up, Al-Eqtisadiah daily reported.
Saudi authorities are reportedly studying procedures of imposing taxes of two types. One would be in the form of financial statements provided by a foreigner in terms of revenues, expenses and profits, the daily said. The second form of tax will be imposed on estimated profits for certain professions in which profits cannot be easily verified such as the contracting sector, which will run to 15 percent, while the rate of tax on consulting professions may go to 25 percent, the daily said.
The new procedures will treat foreigners as investors in self-employed professions without the need to have sponsors after having obtained the required licenses in areas such as workshops, groceries and contracting.
The new drive comes in conformity with statements made by Minister of Commerce Majid Al-Qassabi on the sidelines of the opening of the parallel market (Nomu) last month where he said commercial cover-up is an unhealthy phenomenon and harmful to the nation’s economy.
He said his ministry has developed a study on the causes and solutions for commercial cover-up, including allowing foreigners to invest within certain regulations, and payment of tax without need to conceal their activities.
Last month, the commerce minister called for the elimination of commercial cover-up to improve the national economy and create new jobs for Saudis.
Addressing a workshop, the minister emphasized that anti-commercial concealment is an important and vital issue to improve the economy and to create new jobs. Consequently, he said, it was one of the most important initiatives of the ministry in the National Transformation Program (NTP) 2020.
Foreigners may be allowed to invest in taxed jobs
Foreigners may be allowed to invest in taxed jobs
Riyadh man faces prosecution for selling counterfeit pharmaceuticals
- SFDA said that violations pose a great risk to the health and safety of consumers
- SFDA also requested the public’s cooperation by reporting any observable violations
The Saudi Food and Drug Authority has referred the representative of a commercial establishment in Riyadh to the Public Prosecution after he was found to be involved in the sale of a counterfeit pharmaceutical product.
The act is a direct violation of the Pharmaceutical and Herbal Establishments and Products Law in the Kingdom, which mandates a penalty of up to 10 years’ imprisonment and a fine of SR10 million ($2.6 million), the Saudi Press Agency reported.
The SFDA highlighted the importance of strictly adhering to the laws and regulations put in place to ensure the safety and quality of products circulating in the Saudi market.
The authority said that violations pose a great risk to the health and safety of consumers, warranting the enforcement of legal penalties against offenders.
The SFDA also requested the public’s cooperation by reporting any observable violations in establishments under its supervision to the toll-free line 19999, in an effort to strengthen oversight and safeguard public health.
Saudi students display robotic inventions at Robocon 2025
- Event was attended by student inventors, investors and technology companies
- Several panel discussions focused on ways in which robotics can affect society
RIYADH: Saudi students displayed their robotic inventions at King Abdulaziz University Robocon 2025, which was held at the university’s King Faisal Convention Center from Tuesday to Thursday, the Saudi Press Agency reported.
Organized by the university’s Deanship of Student Affairs, the event was attended by student inventors, investors and technology companies.
Saudi student Samar Awad Al-Rabi, from the Faculty of Medical Rehabilitation Sciences at King Abdulaziz University, presented a smart temperature-monitoring device, aimed at protecting sensitive environments from sudden thermal changes.
Rania Al-Mukhtar Al-Sheikh, from Taibah University, presented an innovative treatment for dry macular degeneration, an eye disease that affects vision.
The device treats and repairs damaged cells, reduces inflammation, and improves bloodflow without damaging healthy tissues with the hope of restoring or improving vision.
Exhibition activities included a range of qualitative competitions, including the “Saqr” competition, which is the first engineering competition focused on drone technologies.
In another competition — the Robocup —robots battled it out on a miniature football pitch.
The event also featured the launch of the innovtech Hackathon, a coding challenge that will include four main tracks focusing on technology in education, tourism, manufacturing and the financial sector.
Several panel discussions focused on ways in which robotics can affect society — including one titled Turning Point: Transforming Tech Ideas into Successful Projects, which explored how to market technological inventions.
The exhibition offered a range of interactive experiences, including virtual reality exhibits and practical workshops that contributed to the skill development of participants.
An interactive game invited attendees to collect stamps from different attractions to win a prize, and visitors were served Arabic coffee by robots.
The university said that the event reflects its vision of empowering students and building a generation that will lead the future of robotics and smart technologies.
KAUST researchers join Africa marine research expedition
- Mission began in Moroni, Comoros, with the team sailing south through the Indian Ocean to Cape Town, South Africa
- Researchers focused on assessing biodiversity at several seamounts — underwater mountain formations
RIYADH: Researchers from King Abdullah University of Science and Technology joined the Saudi non-profit foundation OceanQuest on its first marine expedition around Africa aboard the research vessel OceanXplorer.
The mission began in Moroni, Comoros, with the team sailing south through the Indian Ocean to Cape Town, South Africa.
Researchers focused on assessing biodiversity at several seamounts — underwater mountain formations.
A second phase, designed for early-career oceanographers, proceeded north to Walvis Bay in Namibia before concluding scientific operations in Mindelo, Cabo Verde.
The KAUST research team, comprising two PhD candidates from the Marine Microbiome Lab and one from Earth Science and Engineering, conducted research in biodiversity assessment, seamount studies and chemical analysis.
The team compared seamount formation in the Indian Ocean with similar geological phenomena in Saudi waters.
Ministry of Tourism inspects hospitality facilities ahead of Hajj
- Al-Mazyad is assessing whether preparations and procedures of multiple hospitality establishments are following the tourism law and its executive regulations
RIYADH: Deputy Minister of Licensing and Classification at the Ministry of Tourism Abdulmuhsen Al-Mazyad has been conducting field tours of hospitality facilities in Makkah to ensure readiness for receiving pilgrims during the Hajj season.
Al-Mazyad is assessing whether preparations and procedures of multiple hospitality establishments are following the tourism law and its executive regulations.
The deputy minister is especially concerned about whether these establishments have obtained the proper operational licensing from the Ministry of Tourism.
As part of its efforts to grow sustainable partnerships with the tourism sector, the ministry’s delegation has also sat with hospitality investors and operators at the Makkah Chamber of Commerce.
Enhancing the quality of service in Makkah and the rest of the Kingdom, managing hardships faced by investors and operators, and the ministry’s commitment to combating those hardships, have all been discussed during the meetings.
Thunderstorms expected across Saudi Arabia until Sunday
- Makkah province is expected to see moderate to heavy rainfall with potential flash floods, hail, and dust-stirring winds
- Riyadh province will also experience light to moderate rainfall, flash floods, hail, and dust-stirring winds
RIYADH: Thunderstorms are expected across most of Saudi Arabia throughout the weekend until Sunday, according to the General Directorate of Civil Defense.
Makkah province is expected to see moderate to heavy rainfall with potential flash floods, hail, and dust-stirring winds, affecting areas like Taif, Maysan, Al-Muwayh, Turbah, Al-Khurmah and Ranyah.
Riyadh province will also experience light to moderate rainfall, flash floods, hail, and dust-stirring winds, affecting areas including Afif, Al-Dawadmi, Al-Quwayiyah, and Shaqra.
Moderate to heavy rainfall is expected in Jazan, Aseer, Al-Baha, and Madinah regions, with moderate rain in Hail and light to moderate rain in Najran and Qassim.
The directorate advised caution, avoiding flood-prone areas such as valleys, and refraining from swimming in them.
It also encouraged staying informed about the latest weather updates through official media channels and social media platforms.
