Question
Kingdom of Saudi Arabia (KSA) now moving to achieve its Vision 2030. In 2020, the government has announced the budget spending which indicate a slightly
Kingdom of Saudi Arabia (KSA) now moving to achieve its Vision 2030. In 2020, the government has announced the budget spending which indicate a slightly higher deficit compare to 2019 budget. a- Explain the reason for the budget allocation and how the government will finance this expenditure for 2020. b- Explain the budget process of Kingdom of Saudi Arabia and compare with the USA government. c- The government has recently introduced value added tax (VAT). Explain two reasons why the VAT is implemented in this country. d- ExplaintheimpactofVATtoconsumerspendingandbusiness. e- The government is planning to change its modified accrual basis to accrual basis. Do you think this is a good practice? Explain your reasons.
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