Saudi Arabia News

Switzerland Publishes Review Of 2021 Tax Progress
Thursday, January 20, 2022
As part of its commitment to fighting cross-border tax evasion and profit shifting, Switzerland sent information on over 3m financial accounts in 2021, according to a new review of the Swiss financial center by the State Secretariat for International Financial Matters. Read Full Story

Indonesian Lawmakers Approve Tax Reform Plans
by Mary Swire, Tax-News.com, Hong Kong
Monday, October 18, 2021
Indonesia's lower house of parliament has signed off on a bill that provides for a two-stage hike to the headline value-added tax rate, the cancellation of a planned corporate tax cut, and the introduction of a new top rate of personal income tax. Read Full Story

Saudi Arabia To Treble VAT Rate To 15pc In Response To COVID-19
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, May 15, 2020
Saudi Arabia has announced its decision to increase its headline value-added tax rate to 15 percent from five percent, in a surprise break from the Gulf Cooperation Council's harmonized value-added tax framework. Read Full Story

BEPS MLI Enters Into Force For Cyprus, Saudi Arabia
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, May 15, 2020
The BEPS multilateral convention entered into force for treaties signed by Cyprus and Saudi Arabia on May 1, 2020. Read Full Story

EU Finance Ministers Issue Joint Statement On Digital Taxation
by Lorys Charalambous, Tax-News.com, Cyprus
Tuesday, March 3, 2020
The finance ministers of France, Germany, Italy, and Spain have put their names to a statement calling for countries to reach an agreement on solving the tax challenges of the digital economy by the end of 2020. Read Full Story

Netherlands Adds To Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, December 31, 2019
Barbados and Turkmenistan have been added to the Netherlands' list of low-tax jurisdictions for the purposes of enforcing certain anti-tax avoidance rules, the Dutch Ministry of Finance announced on December 30, 2019. Read Full Story

OECD Releases Eight New Action 14 Peer Reviews
by Ulrika Lomas, Tax-News.com, Brussels
Friday, December 6, 2019
The OECD recently released the seventh round of stage one peer review reports, assessing eight jurisdictions' efforts to implement the BEPS Action 14 minimum standard on tax dispute resolution. Read Full Story

Netherlands Begins Consultation On Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Friday, October 11, 2019
On October 7, 2019, the Dutch Government announced the launch of a consultation on the 2020 edition of the list of low-tax jurisdictions for the purposes of enforcing existing and forthcoming anti-avoidance legislation intended to tackle base erosion and profit shifting. Read Full Story

Saudi Arabia Begins Requesting Local, Master File
by Lorys Charalambous, Tax-News.com, Cyprus
Friday, September 20, 2019
The General Authority of Zakat and Tax (GAZT) in Saudi Arabia published final transfer pricing by-laws, including transfer pricing documentation requirements proposed under the OECD's 2013 Base Erosion and Profit Shifting (BEPS) Action 13 Plan, on February 15, 2019. GAZT has now begun formally requesting the submission of specific transfer pricing documentation, in relation to the fiscal year ending December 31, 2018. Read Full Story

Oman Says VAT Not On The Backburner
by Lorys Charalambous, Tax-News.com, Cyprus
Thursday, August 8, 2019
Oman's Government has released a statement confirming that it is preparing to introduce VAT legislation into parliament to implement the levy without delay. Read Full Story
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