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nomad soul
Joined: 31 Jan 2010
Posts: 11454
Location: The real world
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 Posted: Wed Apr 06, 2016 7:42 am Post subject: KSA considering US-style 'green cards' for expats |
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Saudi Arabia planning US-style ‘green card’ system
Arabian Business | 6 April 2016
Source: http://www.arabianbusiness.com/saudi-arabia-planning-us-style-green-card-system-627529.html
Saudi Arabia is considering setting up a ‘green card’ system, similar to that used in the US, as part of plans to raise $100 billion of revenues annually by 2020. The green card system and a plan to charge companies a fee for hiring more foreign workers above official quotas could raise $10 billion each a year, Deputy Crown Prince Mohammed bin Salman told Bloomberg News.
Other than VAT, Prince Mohammed said: “Yes, we have the sin tax, energy drinks and soda drinks tax. We are working on a specific programme similar to the green card. Some fees might be on luxury items and as we said earlier, restructuring subsidies. So it’s a large package of programs that aims to restructure some revenue-generating sectors.” The prince said that $10 billion would come from VAT, $30 billion from subsidy reforms and $40 billion from other unspecified measures.
The green card system in the US allows immigrants to live and work in the country permanently. They are valid for 10 years, after which they can be renewed, and are seen as a path to gain citizenship. Further details about the Saudi green card policy are unknown, although further details about Saudi Arabia’s revenue-generating proposals may be clarified in the National Transformation Progamme, which Prince Mohammed said would be launched in less than a month’s time.
(End of article) |
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gregory999
Joined: 29 Jul 2015
Posts: 372
Location: 999
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| Posted: Wed Apr 06, 2016 8:53 am Post subject: Re: KSA considering US-style 'green cards' for expats |
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| Saudi Arabia is considering setting up a ‘green card’ system, similar to that used in the US, as part of plans to raise $100 billion of revenues annually by 2020. |
It is better to call it "orange card" system, it is more appropriate for the Magic Kingdom (land of sand not grass!  ).
The "orange card" system will not guaranty you the Saudi citizenship even if you work for 100 years. No way.
| Quote: |
| Prince Mohammed said: “Yes, we have the sin tax, energy drinks and soda drinks tax. |
What about white coffee and tea drinks tax? Prince M.?
They are highly consumable products in the Magic Kingdom, a double sin tax must be included.  |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Wed Apr 06, 2016 3:46 pm Post subject: |
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| The prince said that $10 billion would come from VAT, $30 billion from subsidy reforms and $40 billion from other unspecified measures. |
How is that for pure fantasy? Since VAT is charged at production, what do they produce to put VAT on???
And like our own governments back home, there is always a political party that promises massive income ($40 Billion?) from unspecified measures. In the US, they call it "closing loopholes" that are never explained... or closed...
VS |
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scot47
Joined: 10 Jan 2003
Posts: 15343
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| Posted: Wed Apr 06, 2016 3:51 pm Post subject: |
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| They say VAT but mean "Sales Tax". |
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gregory999
Joined: 29 Jul 2015
Posts: 372
Location: 999
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| Posted: Wed Apr 06, 2016 4:46 pm Post subject: |
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| veiledsentiments wrote: |
| Quote: |
| The prince said that $10 billion would come from VAT, $30 billion from subsidy reforms and $40 billion from other unspecified measures. |
How is that for pure fantasy? Since VAT is charged at production, what do they produce to put VAT on??? VS |
Well, the Magic Kingdom produce camel milk, and it is time to put some VAT on it!
BTW, camel milk is highly consumed in the Magic Kingdom, especially during Ramadan, and the price of 1L is twice of cow milk.
The VAT system will work very good for Uncle Bandar. |
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veiledsentiments
Joined: 20 Feb 2003
Posts: 17644
Location: USA
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| Posted: Thu Apr 07, 2016 2:41 am Post subject: |
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| scot47 wrote: |
| They say VAT but mean "Sales Tax". |
So I have always figured... otherwise they wouldn't earn anything from it.
VS |
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