Saudi Arabians breathe relief on three services as government shares load for VAT

The General Authority for Zakat and Tax (GAZT) in Saudi Arabia  has  stated the government's intention to pay on behalf of its citizens Value Added Tax (VAT) dues on specified services. This move follows the government's  decision  to increase the VAT rate from the previous 5% to 15% from the first of July to offset the impact on economy because of the coronavirus pandemic.

Education, Purchase of the first house by a citizen for a value not exceeding SR 8,50,000 and Private healthcare centre costs are the three services stated in the notification.

Source : Gulf News

You can access Law including Guidelines, Cabinet & FTA Decisions, Public Clarifications, Forms, Business Bulletins for all taxes (Vat, Excise, Customs, Corporate Tax, Transfer Pricing) for all GCC Countries in the Law Section of GCC FinTax.