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Saudi Arabia imposes annual tax on undeveloped land
Published Mon, May 9, 2016 · 09:50 PM
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Riyadh
SAUDI Arabia has imposed an annual tax on undeveloped urban land, the Housing Ministry said on Sunday, finalising the rules for a system intended to address a politically sensitive shortage of affordable housing.
The introduction of a land tax, first announced by the cabinet in November, marks a major step for the world's top oil exporting…
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