Saudi Arabia has issued Royal Decree M/70 of 28 March 2018, which amends the rules for the taxation of natural gas investment activities. One of the main changes is a reduction of the corporate tax rate on income from natural gas investment activities from 30% to 20%. Another important change is that for companies engaged in natural gas investment activities as well as other oil and hydrocarbon activities, the tax base for each must be determined separately, with the total tax payable equal t…