Saudi Arabia: Draft regulations for implementing VAT regime

Saudi Arabia: Draft regulations for implementing VAT

The Saudi tax authority issued, for public consultation, draft regulations on implementing a value added tax (VAT) system. Comments are due by 19 August 2017.

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The draft VAT implementing regulations need to be read in conjunction with the VAT framework agreement of the Gulf Cooperation Council (GCC) and the Saudi VAT law. Among the measures in the Saudi draft VAT regulations are measures concerning:

  • Group VAT registration
  • Transitional provisions on applying VAT to existing and long-term contracts
  • Supplies exempt from VAT
  • “Zero-rated” supplies
  • Filing and invoicing measures

 

Read a July 2017 report [PDF 208 KB] prepared by the KPMG member firm in Saudi Arabia

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