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> Aramco, formally known as Saudi Arabian Oil Co., pays a 20 percent royalty on revenues and an 85 percent income tax. No wonder they want to IPO!
by jonknee 10y ago
> Aramco, formally known as Saudi Arabian Oil Co., pays a 20 percent royalty on revenues and an 85 percent income tax.
No wonder they want to IPO!
- astrodust 10y ago85% income tax is more like a skim given how that money's dispensed.
- Animats 10y agoIt's a tax dodge. Taxes paid by ARAMCO to the Government of Saudi Arabia are meaningless, because ARAMCO is owned by the Government of Saudi Arabia. However, those taxes can be deducted from US taxes by US companies which import Saudi oil.