Saudi Arabia: Implements New Public Finance Control Law

Argaam, 27 November 2025: Saudi Arabia’s Cabinet has approved a comprehensive Financial Oversight Law to replace existing legislation, extending financial controls across all state-funded entities and organisations receiving government support.

The new legislation introduces expanded oversight measures for bodies managing public funds, including those collecting state revenues or conducting procurement on behalf of government institutions.

Under the updated framework, oversight mechanisms will be tailored to individual organisations based on their operational independence and financial risk levels. The law establishes specific monitoring requirements for entities funded through the state’s general budget, as well as those receiving government subsidies or grants.

The legislation also covers organisations contracted to collect public revenue or perform government-commissioned work and procurement activities. All entities falling under the law’s scope must adhere to new compliance standards and financial reporting requirements.

The Ministry of Finance will oversee the implementation of these enhanced control measures, which introduce updated regulatory tools for monitoring public expenditure and revenue collection. The new law establishes standardised procedures for financial oversight while allowing for entity-specific adaptations based on operational requirements.

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Saudi Arabia: New Safety Rules Launched for High-Risk Jobs

Saudi Arabia’s Minister of Human Resources and Social Development has introduced strict new regulations governing high-risk occupations, establishing a comprehensive licensing and accreditation framework for both individuals and organisations involved in occupational safety and health.

The new regulation introduces two distinct qualification pathways – a professional track and a practitioner track – for individuals working in hazardous occupations. It sets out detailed requirements for licensing establishments that provide occupational safety and health services, including consulting firms, training centres, and e-learning providers.

Under the framework, specific technical and regulatory standards must be met before accreditation is granted. The regulation outlines qualification requirements for practitioners and establishes governance protocols to ensure compliance with national safety standards.

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Saudi Arabia: Shura Council Approves New Plant Varieties and Patent Laws

Al Madina, 17 November 2025: Saudi Arabia’s Shura Council has approved four new regulatory frameworks covering plant varieties, integrated circuit layouts, designs, and patents.

The Council endorsed new regulations for plant varieties, integrated circuit layout designs, industrial designs, and patents and utility models.

Members called for updates to laboratory science curricula to include modern technologies such as molecular diagnostics, medical genetics, and artificial intelligence in laboratory analysis. They also emphasised the need for enhanced research support and computing applications, particularly in engineering and computer science facilities.

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Saudi Arabia: Tax Authority Sets November Deadline for Excise Tax Returns

Al Riyadh, 10 November 2025: Saudi Arabia’s Zakat, Tax and Customs Authority has announced that businesses subject to excise tax must submit their returns for September and October 2025 by 15 November 2025.

The authority has warned that late submissions will incur penalties of 5% of the tax value for every 30 days of delay. Businesses can submit their returns through the authority’s official website.

The excise tax applies to products with potential negative health or environmental impacts, including carbonated drinks, energy drinks, sweetened beverages, and tobacco products. The tax rates vary depending on the product category.

All affected businesses have been urged to submit their returns promptly to avoid financial penalties. The submission deadline applies to all enterprises dealing with products subject to excise tax regulations.

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Saudi Arabia: Introduces Updates on the Five-Year Rent Freeze in Riyadh

Argaam, 29 October 2025: Saudi authorities have announced sweeping changes to rental regulations, on the five-year rent freeze in Riyadh and new protections for tenants across the kingdom.

The reforms, which affect both residential and commercial properties, introduce several key measures: a complete suspension of rent increases within Riyadh’s urban boundaries for five years, mandatory registration of all rental contracts through the official platform, automatic contract renewal unless 60 days’ notice is given, fixed rental rates for vacant properties based on last recorded values and new electronic system for processing rent adjustment requests.

Under the new regulations, landlords can only decline contract renewals under specific circumstances: non-payment of rent, structural safety concerns and personal or immediate family use of the property.

For properties outside Riyadh, landlords must seek tenant approval through the official platform for any rent modifications. The changes must be proposed at least 90 days before contract expiry, with tenants required to respond within 30 days.

The reforms also address contract validity, stipulating that unregistered agreements will not be legally enforceable. Additional service charges, such as parking and cleaning, must be clearly stated in the initial contract.

Enforcement measures include penalties for violations, with authorities implementing verification systems to prevent circumvention of the regulations. Property ownership changes will not affect existing rent caps.

The new system maintains these restrictions regardless of pre-existing agreements, including long-term contracts with built-in increase clauses. Officials will consider extending similar measures to other cities based on market conditions.

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Saudi Arabia: Expands Stock Market Access for Foreign Investors

Business Wire, 27 October 2025: Saudi Arabia’s Capital Market Authority (CMA) has introduced significant changes to its investment account regulations, widening access to the Kingdom’s main stock market for Gulf-based foreign investors and former residents.

Under the new framework, individual foreign investors residing in Gulf Cooperation Council (GCC) countries can now directly invest in shares listed on the Saudi Main Market (TASI). Previously, these investors were restricted to debt instruments, the Parallel Market, investment funds, and derivatives trading.

The amendments also permit foreign investors who formerly resided in Saudi Arabia or other GCC countries to maintain their investment accounts and continue trading on the main market after leaving the region, provided they established their accounts during their residency period.

These regulatory changes mark a significant shift from previous rules, which limited main market access to foreign investors operating through swap agreements with licensed institutions or managed accounts.

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Saudi Arabia: Government Seeks Public Input on Procurement Law Changes

Argaam, 20 October 2025: The Finance Ministry has launched a public consultation on proposed amendments to government procurement regulations, running until October 22, 2025, focusing on contract termination procedures and guarantee confiscation rules.

The proposed changes target two specific articles within the government tenders and procurement executive regulation. It introduces new timelines for contract termination decisions and establishes formal procedures for handling final guarantee confiscations. It also outlines specific circumstances under which contracts may be terminated in the public interest.

Under the revised regulations, government entities must provide detailed documentation and seek approval from both the Finance Ministry and the Government Expenditure and Project Efficiency Authority before terminating any contracts. The amendments establish a clearer framework for protecting both government and contractor interests during the termination process.

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Saudi Arabia: Reforms Accounting Law and Development Fund Regulations

Argaam, 14 October 2025: The Saudi Arabian Cabinet has approved significant amendments to two major financial frameworks: the Law of the Accounting and Auditing Profession and the operational regulations of the National Development Fund (NDF).

The approved modifications encompass both the professional standards for accountants and auditors, as well as revisions to the governing structure of the Saudi Organization for Auditors and Accountants. These changes establish new operational parameters for accounting professionals in the kingdom.

Simultaneously, the cabinet sanctioned updates to the NDF’s bylaws, marking a substantial revision to the fund’s operational framework. This follows the fund’s strategic restructuring initiated in March 2022, which positioned it as an integrated national financial institution.

The NDF has established specific financial targets through its network of development banks and affiliated funds.

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