Implementation VAT Value Add Tax Kingdom Saudi Arabia

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VAT Introduction timing in Saudi Arabia signing of the VAT Framework Treaty with other Gulf countries. The signs of aiming of VAT all GCC countries and Saudi Arabia, Kuwait, UAE, Oman, Bahrain, Qatar had agreed on the implementation the Value Add Tax by the next year 1st January 2018. But KSA Cabinet has approved this Value Add Tax framework treaty at the start of this year 2017. With the Saudi Cabinet’s approval, Value Add Tax’s implementation is confirmed now. So, what is Value Add Tax and how will effect expatriate leaving in the region of the Kingdom?
VAT Tax Value Added Tax KSA
VAT Tax Value Added Tax KSA

But KSA Cabinet has approved this Value Add Tax framework treaty at the start of this year 2017. With the Saudi Cabinet’s approval, Value Add Tax’s implementation is confirmed now. So, what is Value Add Tax and how will effect expatriate leaving in the region of the Kingdom?

How to Implement Value Add Tax In Kingdom Saudi Arabia

With the Saudi Cabinet’s approval, Value Add Tax’s implementation is confirmed now. So, what is Value Add Tax and how will effect expatriate leaving in the region of the Kingdom?

Effect of Value Add Tax on Businesses in KSA

VAT will affect most of the Industries but in especially:
  • Financial Services
  • Real estate
  • Industrial and consumer products
  • Media, Technology, and Telecommunications
  • Most Important Question Of VAT In KSA

First Question: What is VAT?

What is VAT? VAT is Stand for Value Add Tax means Tax – these kinds of tax apply on value addition on the product. Some of the countries call it a tax on consumption expenditures. The VAT is put into affected most of 150 countries of the world.

Second Question: How much is it?

It will be 5% levy will apply to certain goods.

Third Question: When is it going to be put in affected?

The tax will implement on the 1st January 2018 or maximum by 1st Quarter of the year 2018.

Fourth Question: How will it affect the Foreigner?

The Tax on expatriates will be affected by the following procedure:
  • Some of the product and services in the region of KSA will be slowly increased. As there just a little addition (5%) tax at each stage of Value addition
  • All the companies in the Kingdom of Saudi Arabia make plane their accounting to adjust Value Add Tax (VAT) Framework.
  • All Business in Saudi Arabia Transaction will become more apparent, and all the hidden firms in the region will disappear.
  • A 100% Taxes on Alcohol, Fast Food, Energy, Soft drinks, tobacco, and Gambling harmful products have already implemented in this year 2017 in the GCC Countries as per their agreement.

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HowGear: Implementation VAT Value Add Tax Kingdom Saudi Arabia
Implementation VAT Value Add Tax Kingdom Saudi Arabia
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