In a bid to create non-oil revenue streams amidst falling oil prices, the Kingdom of Saudi Arabia is also contemplating a ‘permanent residency’ system for the large expatriate population in the country.

In an exclusive interview to Bloomberg News, Deputy Crown Prince Mohammed bin Salman, who has been spearheading the country’s economic diversification plan, he said that among revenue-raising plans, authorities were discussing a program similar to the US Green Card system, that would target the expatriates in the kingdom. He didn’t divulge much about program.

Other steps that authorities were weighing in on are imposing a value-added tax and a levy on energy and sugary drinks as well as luxury items – in a bid to restructure subsidies… see more

source: khaleejtimes