KSA to charge 15% VAT on goods imported through e-commerce

NaseerNaseer    29 June 2020
KSA to charge 15% VAT on goods imported through e-commerce

The Saudi customs reported 15% of VAT on or after 1 July 2020 for transactions involving e-commerce of products from outside the country. The General Authority of Customs mentioned on its twitter page that all sales and purchases in e-stores that includes importing products to Saudi Arabia through customs will be subject to a VAT of 15 per cent if their import or consignment arrives on or after July 1, 2020.

The adjusted tax is applied to all supplies of taxable goods or services that are normally subject to a rate of 5% imported into the Kingdom. Earlier in the month, Saudi Arabia declared that as part of reforms to boost its economy hit by COVID-19 's effect and low price of oil, it will triple its VAT from 5 % to 15%. 

Source: Gulf News (https://gulfnews.com/business/saudi-arabia-to-charge-15-vat-on-goods-imported-through-e-commerce-1.72295243)



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