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Post by Canadian CH E on Dec 9, 2017 23:09:37 GMT
All.
As we know Aramco has drastically decreased expat benefits this year. Primarily the EOS benefits have been decreased to be almost insignificant and the RAA has gone down by around 60% for people with multiple children. So far these changes are only for new hires.
For people already working in Saudi is there a chance that expats already working in country will be impacted by these changes eventually? Is there any precedent for Aramco changing benefits for people when in country?
What is the best benefit that may be impacted? I've heard educational allowances may be cut...
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Post by dlane on Dec 10, 2017 14:45:49 GMT
Normally they grandfather employees in benefits, similar to other oil companies, so they shouldn't change but you never know. Things like repat amounts though can change overnight if there is a sustained change in flight prices for example.
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Post by StarboyX on Dec 15, 2017 23:44:56 GMT
I'm also a Canadian expat here and just arrived in March.
In August, the RAA for bachelors and singles also changed, as with families.
This did effect bachelors already on the old RAA as they have less repats/leaves to visit their families.
This also does impact new hires, such as yourself, with multiple children.
Grandfathered allowances and benefits are also not guaranteed, and could be subject to change.
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Post by Canadian CH E on Dec 16, 2017 6:51:05 GMT
Starboy, what's the general feel - is there more of these changes to come?
One wonders because if you already work for a multi national the Aramco experience ex-pat package is no longer on par with Exxon or S. Not sure it makes sense to leave a big company to work for Aramco anymore.
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Post by StarboyX on Dec 16, 2017 9:16:50 GMT
We hear rumors time to time and to be frank, until an email comes out, they're all rumors.
I can't comment much more about the feel as I'm new here too, just arrived this past March.
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jbtc
Member
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Post by jbtc on Jun 10, 2018 22:21:50 GMT
What does the acronym RAA stand for?
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swan
Senior Member
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Post by swan on Jun 11, 2018 3:24:36 GMT
RAA=Rental assistance allowance
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Post by experion on Jun 13, 2018 5:35:27 GMT
Starboy, what's the general feel - is there more of these changes to come? One wonders because if you already work for a multi national the Aramco experience ex-pat package is no longer on par with Exxon or S. Not sure it makes sense to leave a big company to work for Aramco anymore. Even multi national expat pakages have come down drastically. Not only Saudi aramco every multi national has cut down in the last couple of years. The tax free aspect of Saudi makes all the difference. However, the risk of leaving a multi national oil company to join aramco has to be evaluated which is a difficult one as you don't know what is coming in the future. |
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jbtc
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Post by jbtc on Jun 13, 2018 21:32:29 GMT
Experian, I have a question about your comment "The tax free aspect of Saudi makes all the difference". I am moving to Dhahran from Florida next month and I just wanted to ensure I understand the tax benefit correctly. My understanding is that while there is no Saudi income tax, I am still required to pay income taxes to the US federal government less amounts subject to the foreign income exclusion. Is that correct? If yes, was your reference to the tax free aspect in reference to the portion of income earned in Saudi that qualifies for the foreign income exclusion, or are there additional tax benefits that I have overlooked? Thanks for any insight you can provide on this.
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Post by dlane on Jun 23, 2018 22:00:24 GMT
He's probably not from the US. It is tax free for almost all countries except the US.
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jbtc
Member
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Post by jbtc on Jun 25, 2018 20:31:42 GMT
Thanks dlane, wasn't certain if I overlooked anything related to the tax aspect for US-based expats.
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