Based on the Commercial Companies Law No. 4/74,
and the Law for Regulating and Encouraging Industry promulgated by Royal Decree No. 1/79,
the Foreign Capital Investment Law promulgated by Royal Decree No. 102/94,
the Unified Industrial Regulation Law for the States of the Cooperation Council for the Arab States of the Gulf promulgated by Royal Decree No. 61/2008,
the Income Tax Law promulgated by Royal Decree No. 28/2009,
Ministerial Decision No. 45/2005 Regarding the Determination of the Controls and Procedures for Tax and Customs Exemption for Foreign Investment Projects,
the Executive Regulation of the Income Tax Law issued by Ministerial Decision No. 30/2012,
and Financial Affairs and Energy Resources Council Decision No. 34/2010 adopted at its second meeting of 2010 held on 1 November 2010 regarding the approval of the controls for the renewal of income tax exemption for companies conducting their principal activities in the fields stipulated in Article 8(1) of the Foreign Capital Investment Law,
and in pursuance of public interest,

It is hereby decided