While the US taxes the foreign income of its citizens and permanent residents who reside overseas, the US does have special provisions to help protect taxpayers from double taxation. This even refers to income tax for expats in Saudi Arabia. You will be required to file a regular income tax return, and you might also be required to file an informational return on your assets held in foreign bank accounts with FinCEN Form 114 (also known as Foreign Bank Account Report вЂ“ FBAR). If you are a citizen or permanent resident of the United States and meet filing thresholds, then you are obligated to file your US taxes with the IRS every year, no matter where you live. Even if you face an advantageous tax structure in your host country, you could be affected adversely on your US taxes for expatriates вЂ“ and this is just one of the reasons why understanding your filing obligations to US authorities is important as you comply with Saudi expat tax laws. Last week, de facto ruler Crown Prince Mohammed bin Salman announced the Saudi Public Investment Fund would invest $40bn in economic stimulus annually over the next five years, as the kingdom combats soaring unemployment.How will living in Saudi Arabia affect taxes for expatriates? The opportunities and favorable tax structures have made many Gulf nations desirable destinations for expats from around the globe. The worldвЂ™s leading exporter of crude oil has faced a double hit from the global health crisis and the collapse in oil prices on the international market. The statistics authority attributed the unemployment figures to the coronavirus pandemic, which вЂњcontinues to affect the Saudi job market and its economyвЂќ. Some 60 percent of unemployed Saudis are aged between 20 and 29. Unemployment in Saudi Arabia reached 14.9 percent in the third quarter of 2020, approaching the record 15.4 percent jobless rate recorded a year earlier, according to official data. A Saudi woman works inside the first all-female call centre in the kingdomвЂ™s security sector, in Mecca, Saudi Arabia Double economic hit The edict will apply to all client-facing roles that use telephone contact, email, social media and other вЂњmodern meansвЂќ, the ministerial decree said. вЂњAn extension of the ministryвЂ™s endeavors to expand Saudisation, with the aim of enabling the nationвЂ™s sons and daughters to have job opportunities We issued a decision restricting work in the professions and jobs of remote customer service to Saudi men and women, whether through direct or indirect contracting,вЂќ AlrajhiвЂ™s tweet said. вЂњThis decision is intended to create job opportunities for Saudis, help them improve their income levels and support the Saudi economy.вЂќДЄhmed Alrajhi, Minister of Human Resources and Social Development, said on Twitter that the decision was part of the countryвЂ™s Saudisation plan. вЂњJobs in remote customer service roles will from now on be reserved for Saudis,вЂќ the Human Resources and Social Development Ministry announced in a statement on Monday.

The kingdom, the Arab worldвЂ™s economic powerhouse, has increasingly sought to employ its nationals over migrant workers, a trend that has grown across Gulf monarchies since a 2014 oil price plunge. Saudi Arabia will reserve customer service centre jobs for Saudi citizens to вЂњoffer greater opportunitiesвЂќ and вЂњimprove their income potentialвЂќ, officials said, as the oil exporter battles economic headwinds.

Saudi jobs for us citizens