RIYADH: Startup costs for commerce fees register decreased by 96 percent for companies and from 33 percent to 75 percent for enterprises for the first five years.
Saudi Arabia will exempt small and medium enterprises (SMEs) from commerce fees register for three years as the country plans to boost the number of startups in the economy.
According to the ministry of commerce, exemption will be granted to those wishing to issue a new trade register from the financial equivalent for 3-years and reduction for subsequent years, according to the Ministry of Commerce
Fees will start in the fourth and fifth year, but at a reduced rate of SR500 ($133) for entrepreneurs and SR200 for entrepreneurs with a capital of less than SR375,000 and whose employees do not exceed 5.
This initiative came to support and reduce the startup cost of business for both entrepreneurs and SMEs, and this exemption will save SMEs substantial amounts of money.
Saudi SMEs get 3-year exemption from commerce fees
https://arab.news/8ag44
Saudi SMEs get 3-year exemption from commerce fees
- The initiative aims to support and reduce the startup cost of business
Closing Bell: Saudi main index closes in red at 10,847
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.
The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.
The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.
The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.
The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.
Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.
On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.
Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.
On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.
In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.
