Saudi Arabia intends to reduce the overall tax rate paid by its national oil company to make the 2018 initial public offering — potentially one of the largest in history — more appealing to investors.
“Definitely the fiscal regime will be changed,” Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said in a Bloomberg television interview on Tuesday in Davos, Switzerland. “When you look at the fiscal regime and the taxes, it has to be aligned with other listed companies.”
Aramco, as the company is commonly known, currently pays a 20 percent royalty on its revenue plus an 85 percent tax on income, Nasser said. He declined to say what tax…