Source: CPI Financial The recent introduction of five per cent Value Added Tax (VAT) in the UAE and KSA has not impacted deal flow in the GCC as the tax rate is relatively low compared to global markets. This is despite many companies finding themselves unprepared for the 1 January implementation date and scrambling to […]

Source: Zawya Saudi Arabia – Article 29 of the unified GCC Value-added Tax law (VAT) provides that the GCC countries have the option to exempt or tax by zero percent some sectors, such as education sector, health sector, real estate sector, transport sector, and oil and petroleum sector, I am not in the process of […]

The Saudi Arabia Government has approved the final Kingdom of Saudi Arabia VAT Law and published the statute in the official gazette, Um Al Qura Edition 4681, on 28 July 2017. The highlights of the Law are: Effective date of implementation – Article 53 provides that the Law shall be effective from the beginning of the financial year following […]