#tax

Saudi Arabia Riyadh

Saudi Arabia scraps VAT for property deals

However, a new tax of 5 per cent – the Real Estate Transaction Tax – will be levied on property deals in place of the VAT

Revamping tax regimes in the digital economy

A consensus seems to be developing that tax regimes need to adopt a global approach to confront challenges posed by technological advances

What will be the impact of Saudi’s VAT hike on businesses and consumers?

The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1

No plans to hike VAT in the UAE – ministry

The UAE government levied a 5 per cent VAT on goods and services in January 2018

Saudi Arabia triples VAT, cuts cost of living allowances

The steps taken to shore up revenue and rationalise spending are valued at about SAR100bn in total