A man speaks on the phone as he walks past the Kingdom Centre Tower in Riyadh, Saudi Arabia, November 5, 2017. REUTERS/Faisal Al Nasser/File Photo
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Saudi Arabia and the United Arab Emirates introduced value-added tax from Monday, a first for the Gulf which has long prided itself on its tax-free, cradle-to-grave welfare system.Saudi Arabia compounded the New Year blow for motorists with an unannounced hike of up to 127 percent in petrol prices with immediate effect from midnight.The hike in fuel duty in Saudi Arabia was the second in two years.But it still leaves petrol prices as some of the lowest in the world.
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