The proposed remittances tax would be set at 2% and would affect approximately 1 million expatriates.

The government is also considering a programme of spending cuts amongst other tax measures like a levy on liquefied natural gas exports, expand the country's tax categories, review tax rates, improve tax revenue collection and potentially introduce new taxes like a potential 12% tax on the revenues of telecommunication operators in the country.

Increasing the royalties collected from mining in the country to the maximum 10% allowed under the current law is also under consideration.

The 2015 budget is expected to be announced at the end of next month or in early January 2015 and if all the proposed tax measures were adopted they would raise an additional 302 million Riyals.

First reported on Arabian Business on 24 November 2014.