Saudi Aramco’s Post-IPO Tax Linked to Oil Priceby Forbes Middle East Forbes Middle East - Business News
Saudi Aramcos CEO Amin Nasser has revealed that following the companys initial public offering later this year, the amount of tax it pays on oil revenue will be linked to the price of oil. Recommended Features
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Review on Saudi Aramco’s Post-IPO Tax Linked to Oil PriceThe royalty will remain for the time being at 20%, while later on there will be some alterations that would happen when the price changes in the market, said Nasser in an interview at the World Economic Forum in Davos, Switzerland.
Adjusting the royalty the company pays would help Saudi Arabia raise extra money if prices climb. The Kingdom already relies heavily on oil revenues, although its pushing economic diversification as part of its Vision 2030 plan.
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Created on Feb 2nd 2018 00:17. Viewed 421 times.
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