Saudi Arabia Introduces New GCC Taxes

Saudi Arabia’s General Authority of Zakat and Tax released the
final implementing regulations to legislation governing the new
GCC-wide value-added tax The move, which was announced on GAZT’s
website and in the official gazette, is a milestone for companies
operating in both the Kingdom and the wider GCC, as they prepare
for full implementation of the law on January 1, 2018. The 5
percent VAT, which will be rolled out across the six-member states
of the GCC under a unified agreement, will apply to all goods and
services, though the…

Saudi Arabia’s General Authority of Zakat and Tax released the
final implementing regulations to legislation governing the new
GCC-wide value-added tax The move, which was announced on GAZT’s
website and in the official gazette, is a milestone for companies
operating in both the Kingdom and the wider GCC, as they prepare
for full implementation of the law on January 1, 2018. The 5
percent VAT, which will be rolled out across the six-member states
of the GCC under a unified agreement, will apply to all goods and
services, though the…