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...

Published

Serife Durmus

May 11, 2020

15:10 GMT

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