Are you VAT Ready?

Are you VAT Ready?

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VAT is a consumption tax that is based on the value-added concept. It is levied at each stage of the consumer cycle on goods and services supplied in Saudi Arabia. It is also levied on all goods imported into the Kingdom of Saudi Arabia (KSA). In certain circumstances it is levied on the importation of services from abroad. This is applied through the reverse charge mechanism. VAT may only be levied by VAT registered businesses.

 

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