Minister of Finance Mohammed Al-Jadaan affirmed that the updated State Revenue System contributes to enabling government entities to improve revenue estimation mechanisms and raise the level of compliance in paying dues, in addition to organizing collection procedures and handling government debts, achieving a balance between collection efficiency and consideration of taxpayers' circumstances.

It includes procedures for handling the collection of government dues.

The system update comes within the framework of developing the financial system in the Kingdom, enhancing the efficiency of government revenue management, and solidifying principles of governance and transparency, in line with the economic and administrative transformations the Kingdom is witnessing, consistent with the goals of Saudi Vision 2030.

The system contributes to organizing the management of government revenues by defining roles and responsibilities among relevant entities, developing mechanisms for estimating revenues in the medium and long term, supporting financial planning and increasing the reliability of estimates. It also includes procedures for handling the collection of government dues and organizing payment and installment mechanisms according to specific controls, enhancing fiscal discipline and supporting efficient management of the state's financial resources.

The Minister of Finance expressed gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince and Prime Minister Prince Mohammed bin Salman for the Cabinet's approval of the updated State Revenue System.

He noted the support and attention that the public finance sector receives, considering the adoption of the system an important step towards developing the governance of government revenues and enhancing their management efficiency to support financial sustainability.