The Latest Breaking News from Ministry of Finance

Saudi Arabia Expects Sustainable Surplus Budgets until 2025

The Saudi Ministry of Finance disclosed estimates of its budgets until 2025, showing positive trends and expectations of sustainable financial surpluses during the medium term. The preliminary statement of the state’s general budget for the fiscal year 2023 expected total expenditures to reach about 1.11 billion riyals ($296 billion), and…

Asharq Al-Awsat · Oct 1, 2022

Pharma manufacturers’ body moves Karnataka HC against treating free samples of medicines given to doctors as ‘freebies’ under Income Tax Act

Ministry of Finance had said that drug manufacturers will have to deduct 10% tax for the value of free samples of medicines

The Hindu · Sep 29, 2022

Jordan’s Public Debt Increases to $41 Bln

Jordan’s public debt rose 1.6 percent to 29.16 billion dinars ($41 billion) in the first half of 2022 from 28.7 billion dinars at the end of 2021. Its domestic debt reached 13.89 billion dinars at the end of H1, while its foreign debt reached 15.26 billion dinars, according to statistics…

Asharq Al-Awsat · Sep 12, 2022

$2Bln in Auction of UAE Treasury Bonds

The United Arab Emirates, represented by the Ministry of Finance as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, announced Monday the results of the third auction of the Treasury Bonds program (T-Bonds). This program is part of the AED9…

Asharq Al-Awsat · Aug 2, 2022

SET warns against plan to reintroduce tax on share sales

The Stock Exchange of Thailand has warned that the Ministry of Finance’s plan to reintroduce a 0.1% tax on share sales may significantly affect the bourse’s liquidity and slow economic recovery.

Bangkok Post · Jun 16, 2022

PM’s Iconic Week launch livestreamed in Mysuru

Central GST Department broadcasts the event under ‘Azadi Ka Amrit Mahotsav’ at ATI campus; it was broadcasted in 74 other major cities

The Hindu · Jun 6, 2022

COFEPOSA detention: Denying documents against constitutional right, says Kerala HC

KOCHI: Not supplying the documents relied upon for ordering preventive detention under COFEPOSA Act amounts to violation of the detenue’s constitutional right, the Kerala High Court has held while quashing a detention order issued by the Joint Secretary COFEPOSA of Ministry of Finance.

The Times of India · Jun 6, 2022

PM Modi to launch Azadi Ka Amrit Mahotsav on June 6, event to be webcast in 75 cities

COIMBATORE

The Hindu · Jun 3, 2022

Saudi Quarterly Budget Registers Record Surplus

Official data released on Sunday showed that the Saudi budget for the first quarter of 2022 recorded a surplus of SR 57.4 billion ($15.3 billion dollars). The Saudi Ministry of Finance announced the actual general budget for the first quarter of 2022, noting that the Kingdom collected revenues of SR…

Asharq Al-Awsat · May 16, 2022

Oman's Budget Records Surplus of Almost $1Bn

Oman's state budget recorded a surplus of $928 million at the end of the first quarter of 2022. The Finance Ministry announced the surplus would be used to accelerate economic recovery, enhance development expenditure, and reduce the risks of the country's public debt portfolio. As of the end-first quarter of…

Asharq Al-Awsat · May 10, 2022