Saudi Arabia, austerity and rising taxes

This 11 May 2020 video says about itself:

Saudi Arabia slashes budget and increases tax

Saudi Arabia has announced major budget cuts and a steep increase in value-added tax (VAT).

VAT is mainly paid by poor people, more than by Saudi royals, the Bin Laden dynasty and other rich people.

The move is aimed at shoring up state finances, which have been battered by low oil prices and the coronavirus pandemic.

Al Jazeera’s Alexi O’Brien reports.

5 thoughts on “Saudi Arabia, austerity and rising taxes

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.