#Covid-19: Saudi Arabia suspends tax, disburses N910bn to private sector workers

#Covid-19: Saudi Arabia suspends tax, disburses N910bn to private sector workers

Saudi Arabia’s King Salman has ordered the disbursement of 9 billion riyals (N910billion) to private-sector workers amid the COVID-19 outbreak.

The government said this was to discourage companies from laying off staff.

Other measures include postponements of some government fees and taxes.

The emergency stimulus package was announced in March to boost the economy.

“Instead of terminating the employment of a Saudi citizen, the employer has the right to ask social insurance to disburse as compensation 60 per cent of his salary over a period of three months.”

READ ALSO: #Covid-19: Nigerian Government reveals why corpses of patients won’t be released to families

“With a maximum limit of 9,000 riyals (per employee) and with a total value of up to 9 billion riyals (2 billion pounds),” Saudi Press Agency on Friday quoted the order.

Finance Minister, Mohammed al-Jadaan explained that the package was part of 70 billion riyals set aside to help businesses.

In Nigeria, the federal government said it had commenced payment of funds to the people.

But authorities are facing criticisms over the lack of transparency in the disbursement, modalities, record of beneficiaries and actual figure of funds approved.

On Friday, Governors advised President Muhammadu Buhari to suspend all States’ deductions and restructure all debt service due to the coronavirus crisis.

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (0)
Disqus (0 )