Saudi Arabia Boosts Levies on Imports as Oil Revenue Declines

Saudi Arabia Boosts Levies on Imports as Oil Revenue Declines

Higher customs fees June 10 include food items like milk, meat. Saudi Arabia is raising a raft of customs fees in another policy revamp that could hurt consumer spending at a time when it's already down.. Some of the items had been exempt from customs fees before.. Measures like higher VAT and higher customs fees "will reflect negatively in the long-term for the economy itself, which needs spending stimulated, not limited," he added..