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Why Saudi Arabia Is Easing Taxes on Its State Oil Company

Mar 28, 2017 | 13:54 GMT
Reforming corporate income taxes for energy companies is a critical move for the Saudi Kingdom as it prepares an initial public offering for up to five percent of state-owned Saudi Aramco, a crucial step in its bid to diversify the economy.
Reforming corporate income taxes for energy companies is a critical move for the Saudi Kingdom as it prepares an initial public offering for up to five percent of state-owned Saudi Aramco, a crucial step in its bid to diversify the economy.
(FAYEZ NURELDINE/AFP/Getty Images)

The regulatory change comes as Riyadh prepares an initial public offering for its state-owned energy giant, Saudi Arabian Oil Co. The Saudi government is counting on some short-term pain for long-term gain. ...

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