ThePlace: Saudi Arabia’s Al-Rudaf Park, located in the heart of Taif

This photo was taken by Rana Nasir as part of the Colors of Saudi competition. (Photo/Saudi Torusim)
Updated 29 June 2019

ThePlace: Saudi Arabia’s Al-Rudaf Park, located in the heart of Taif

  • The main attraction is the huge lake at its center

Al-Rudaf Park is a popular spot with visitors throughout the year —  even the summer months. Its green spaces and playgrounds make this a family-friendly space in the heart of Taif. But the main attraction is the huge lake at its center, which covers an area of 13,000 square meters. The lake includes water fountains and 750 water cannons, in addition to a water-display screen and some children’s play areas.


Saudi VAT revenues hit SR46.7bn in a year: Finance minister

Updated 14 November 2019

Saudi VAT revenues hit SR46.7bn in a year: Finance minister

  • Al-Jadaan announced the figures during the first edition of the General Authority for Zakat and Tax
  • Said Kingdom was working to reach a consensual solution for tax challenges

RIYADH: Saudi VAT revenues have hit SR46.7 billion ($12.45 billion), a significant increase on estimates for the fiscal year, according to the Kingdom’s finance minister.

Mohammed Al-Jadaan announced the figures during the first edition of the General Authority for Zakat and Tax (GAZT) conference and exhibition.

“The commitment rate came at 90 percent, exceeding all the expectations of GAZT and some international organizations that ranged between 60 and 70 percent,” he said.

“The conference comes as the Kingdom is witnessing an economic and social transformation under the leadership of King Salman and Crown Prince Mohammed bin Salman to achieve a diverse economy and sustainable growth in line with the Kingdom’s 2030 vision.

“The Kingdom’s fiscal policy aims to achieve a balance between the state’s financial and economic objectives. It seeks to maintain financial sustainability for the medium and long terms, which stimulates economic growth rates. This generates from our recognition that fiscal policies are one of the most important drivers of growth in the non-oil sector,” he added.

“The digital economy is rapidly advancing. We hope that modern technologies such as artificial intelligence and blockchains will improve compliance with zakat and taxes, enrich the business sector, lower costs, promote tax transparency and develop e-commerce tax regulations.

“This conference will hopefully achieve a qualitative leap in the sectors of zakat and taxes by promoting cooperation and exchanging experiences.”

Al-Jadaan said that as the Kingdom prepared to host the next G20 summit, it was working to reach a consensual solution for tax challenges of the digital economy and contribute with other member states to stabilizing the global economy.