Saudi Arabia Readies For Value-Added Tax
by Lorys Charalambous, Tax-News.com, Cyprus
26 July 2017
Saudi Arabia has released draft regulations for the introduction of value-added tax for consultation, following recent approval of the tax framework from lawmakers.
The passage of the framework by Saudi's unicameral legislature and the launch of the consultation on the regulations, released in Arabic, hint that Saudi Arabia will likely proceed on schedule with the introduction of GST alongside the other Gulf states from January 1, 2018.
The GCC is comprised of Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Qatar, and Oman. The value-added tax will be introduced simultaneously at a five percent rate.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
Stay Updated
Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.
By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.
To manage your mailing list preferences, please click here »
Network Blogs and Features
- Should I Incorporate My Business In Texas? »
- International Tax Planning »
- unsurprising teething problems »
- Cyprus Laws and Regulations »
- A warren of rabbit holes »
- GDPR, a possible laughing matter? »
- Why is Hong Kong One Of The Best Place To Base Your International Corporation? »
- Banking in UAE »
- VAT in the Construction Industry »
- Why choose New Zealand as an offshore financial centre? »