Saudi Housing Ministry says imposes annual tax on undeveloped lands

 09 May 2016 - 0:00

Saudi Housing Ministry says imposes annual tax on undeveloped lands
 

RIYADH: Saudi Arabia's Housing Ministry said on Sunday it would impose an annual tax on undeveloped lands. 

The ministry said on its twitter account the tax would be equivalent to 2.5 percent of the value of the land held by individuals or non-government entities. 

Reuters