These responses to FAQs are intentionally simplified. If you are seeking more detailed information we recommend that you wait for further policy announcements by the Ministry of Finance (MoF) or take professional advice in the meantime. We have put next to information that is not in the public domain: 1 Read more…
Saudi Arabia and the United Arab Emirates that make up GCC – are committed to form a common framework for the introduction of value added tax (VAT) in the region. In order to achieve conformity within the GCC, it is anticipated that the six member states will all aim for Read more…
WHAT IS VAT? A comprehensive levy on all goods and services: Transaction based tax borne by the end consumer Paid in successive stages, i.e. for each transaction in the manufacturing and distribution process Invoice based tax credit mechanism with audit trail for authorities Some inputs may be exempted or zero-rated Read more…