Saudi Arabia to increase VAT
The value added tax (VAT) rate in Saudi Arabia will increase to 15% - from the current 5% - in effect from July 1, the Saudi Arabian Ministry of Finance announced on Monday May 11.
The country had initially imposed 5% VAT from January 1, 2018
alongside the United Arab Emirates (UAE) - for the first time in the history of the two countries.
Saudi Arabia’s Ministry of...