Construction Industry News

HKA’s Brian O’Connor: Need for contract provisions to facilitate payments

HKA’s Brian O’Connor: Need for contract provisions to facilitate payments

18th June 2018

According to *ME Construction News report, the introduction of VAT is a key part of the Kingdom’s broader plan to improve fiscal sustainability and diversify government revenues. Due to recent declining oil prices and revenues in the region, the Saudi and other GCC governments agreed a treaty to levy VAT. They hope that applying VAT on goods and services will generate revenue to fund infrastructure and social development projects. As VAT is a valuable source of government revenue in over 160 countries worldwide, its introduction in the Middle East was inevitable, a matter of when rather than if, based on the financial pressures governments were experiencing.[..]

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Midday work ban in Saudi Arabia effective till September 15th, 2018

Midday work ban in Saudi Arabia effective till September 15th, 2018

18th June 2018

According to *Khaleej Times news report, the midday work ban has become effective in Saudi Arabia from Friday (June 15). The Ministry of Labour and Social Development made this announcement. No person should be allowed to work under direct sunlight from 12pm to 3pm during the three months till September 15,  pointed out Khaled Abal Khail, spokesman of the ministry.[..]

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