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Saudi Arabia News




Saudi Arabia Legislates To Absorb VAT On Education

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, January 12, 2018

Saudi Arabia's tax agency has set out the arrangements through which Saudi nationals will not bear the value-added tax that must be charged on education services under the Gulf Cooperation Council's harmonized value-added tax, which was introduced from January 1, 2018. Read Full Story

 


Saudi Confirms VAT Rules For Hire-Purchase Contracts

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, January 8, 2018

On January 3, 2018, Saudi Arabia's tax agency announced an exemption from VAT for lease-to-own and rent-to-own contracts of assets (for example for automobiles or real estate) delivered before January 1, 2018. Read Full Story

 


Cyprus, Saudi Arabia Negotiate Double Tax Agreement

by Jason Gorringe, Tax-News.com, London

Thursday, January 4, 2018

Cyprus's Ministry of Finance says the island has signed a double tax agreement with Saudi Arabia with respect to taxes on income and for the prevention of tax evasion. Read Full Story

 


Having Implemented VAT, Saudi Arabia Moves To Challenge Fraud

by Lorys Charalambous, Tax-News.com, Cyprus

Tuesday, January 2, 2018

Saudi Arabia's tax agency has launched a dedicated application to enable taxpayers to determine if the business they're dealing with is registered for the nation's new value-added tax. Read Full Story

 


United Arab Emirates, Saudi Arabia Introduce Value-Added Tax

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, January 1, 2018

Having introduced value-added tax on January 1, 2018, the United Arab Emirates and Saudi Arabia became the first two states of the six-member Gulf Cooperation Council grouping to follow through on the bloc's commitment to introduce a harmonized value-added tax. Read Full Story

 


Bahrain To Begin Levying GCC's Selective Tax

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, December 28, 2017

Bahrain's Cabinet has approved the introduction of the Gulf Cooperation Council's so-called selective tax on unhealthy commodities from December 30. Read Full Story

 


Oman Confirms No VAT In 2018

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, December 27, 2017

Oman has officially stated it will not be joining the United Arab Emirates and Saudi Arabia in introducing the agreed Gulf Cooperation Council value-added tax until at least 2019. Read Full Story

 


IMF Reports On Middle East's Fiscal Challenges

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, December 21, 2017

The International Monetary Fund has published a new paper on the fiscal consolidation challenges being faced by the members of the Gulf Cooperation Council – Kuwait, Qatar, Oman, Saudi Arabia, Bahrain, and the United Arab Emirates – whose tax revenues have been depressed due to persistently low oil prices. Read Full Story

 


Saudi Arabia Clarifies VAT On Electronic Services, E-Commerce

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, December 15, 2017

Saudi Arabia's tax agency has released a statement clarifying that all electronic sales and purchases are to be subject to the standard five percent value-added tax rate, with due amounts to be collected by the Customs Authority at the port of entry. Read Full Story

 


Saudi Arabia Explains Invoicing Rules For GCC VAT

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, December 4, 2017

Saudi Arabia's tax agency has released more guidance on the value-added tax, ahead of its introduction on January 1, 2018, focusing on invoicing obligations. Read Full Story

 

 

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