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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
Saudi Aramco tax change
In a bid to make its planned Initial Public Offering (IPO) of a 5% of state-owned Saudi Aramco in late
2018 more attractive by improving Aramco’s cash flows, the Saudi government has cut the company’s tax rate from 85% to 50%. Market analysts report that the tax cut reduces the fiscal take to 65%, bringing the operating environment in line with global averages. However, even taking into account the effect of this change, there is significant uncertainty over whether the
company can achieve its $2tn valuation.
News Item details
Journal title: Petroleum Review
Countries: Saudi Arabia -
Subjects: Policy and Governance, Economics, business and commerce
