Al-Jadaan: Updated State Revenue System Contributes to Developing Government Revenue Governance and Debt Management

Mohammed Al-Jadaan, Minister of Finance

Minister of Finance Mohammed bin Abdullah Al-Jadaan confirmed that the adoption of the updated State Revenue System represents an important step towards developing government revenue governance and enhancing its management efficiency to support financial sustainability. In a ministerial statement, he indicated that the system contributes to enabling government entities to improve revenue estimation mechanisms, raise compliance levels 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 is noted that the system update comes within the framework of developing the financial system in the Kingdom, enhancing the efficiency of government revenue management, and establishing principles of governance and transparency, in line with the economic and administrative transformations witnessed by the Kingdom, consistent with the goals of Saudi Vision 2030. The system, which was approved today during the Cabinet session held in Jeddah, contributes to organizing government revenue management by defining roles and responsibilities among relevant entities, developing revenue estimation mechanisms in the medium and long term, supporting financial planning and raising 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 financial discipline and supporting the efficiency of managing the state's financial resources.

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