Royal Order on Saudi Aramco's tax is positive for Kingdom's economic diversification, CEO Amin Nasser says

Saudi Aramco today welcomed the introduction of the new tax regime for all hydrocarbon producers operating in the Kingdom as another positive step in the diversification of the Kingdom’s economy.

Commenting on the Royal Order, Amin H. Nasser, President & CEO, Saudi Aramco, said: “We thank the Custodian of the Two Holy Mosques King Salman ibn ‘Abd Al-‘Aziz Al Sa’ud for the Royal Order announcing the reduction of Saudi Aramco's tax rate to 50 percent from 85 percent. The new tax rate will bring Saudi Aramco in line with international benchmarks.”

Nasser reiterated that Saudi Aramco would continue to make a critical contribution to the diversification and growth of the Saudi economy in line with Saudi Vision 2030.