Saudi Arabia drops oil, non-oil revenue details from 2021 budget after Aramco listing

15/12/2020 Argaam

Saudi Arabia did not mention the oil and non-oil revenue details in the 2021 state budget, as the government currently deals with Tadawul-listed Saudi Aramco as a tax payer, said Mohammed Al-Jadaan, Minister of Finance and Acting Minister of Economy and Planning.

 

The government receives revenue, tax and dividend from Aramco, given that it is one of the major shareholders in the oil firm, Al-Jadaan said, adding that the revenue is classified into taxable and non-taxable items, including the revenue and dividend from government investments.  

 

The minister indicated that the Ministry of Finance does not comment on oil prices, as the Kingdom is a major oil producer, and it is unfavorable for it to discuss oil forecast.

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