The official gazette, Umm Al-Qura, published the new State Revenue System in Saudi Arabia, which includes a comprehensive framework for developing and collecting government revenues, regulating the handling of debts owed to the state, and granting incentives to government entities for increasing and developing their collected revenues.

The system defines the sources of state revenue, including fees and taxes, financial levies, sales, penalties and fines, the sale and lease of state-owned property, compensation, and financial returns resulting from contracts, natural resources, privatization, or investment, in addition to any other sources approved by royal decree, royal order, or a decision of the Council of Ministers.

Under the system, the Ministry of Finance, with the exception of oil revenues which are determined in coordination with the Ministry of Energy, is responsible for estimating revenues for up to 10 fiscal years, based on data and estimates received from government entities, including any debt data. The Ministry is granted the authority to discuss and amend these estimates and to inform the entities of the approved estimates.

The system also allows the Ministry to re-estimate revenues in emergency situations or in the event of changes in economic and financial conditions.

Government entities are obligated to develop the revenues from their tangible and intangible assets, according to the nature of their functions and in coordination with the Ministry of Finance, while remaining responsible for monitoring the collection of their revenues and debts. The system also provides incentives

for entities and employees

when they achieve an increase in their collected revenues and their growth, including the possibility of granting incentive bonuses to employees and workers who contributed to achieving this increase, in accordance with the regulations specified in the implementing regulations.

Regarding revenue and debt collection, the regulations require entities to document revenues and debts during the fiscal year and collect due amounts by their legally specified due dates. They are permitted to utilize the private sector in collection operations according to the regulations.

Entities included in the state's general budget are obligated to transfer all collected revenues and debts to the unified treasury account at the Saudi Central Bank, according to the schedules specified in the regulations.

The Ministry of Finance is responsible for monitoring the collection of due revenues and debts by entities and for determining the responsible party in cases where jurisdiction is disputed between more than one entity. The regulations also require government entities to

demand

payment from debtors on the working day following the due date. If payment is not received within 30 days of the demand, the entity must submit a request to the competent judicial authority for enforcement against the debtor's assets to collect the debt.