VATLive > Blog > VAT > Saudi Arabia approves VAT implementation - Avalara

Saudi Arabia approves VAT implementation

  • Feb 1, 2017 | Richard Asquith

Saudi Arabia approves VAT implementation

The Saudi Arabian government has approved this week the introduction of VAT from 1 January 2018.

The country is anxious to diversify itself from unreliable oil duty revenues, which have fallen sharply over the past three years.

The likely standard rate will be 5%. VAT is being introduced in the five other Gulf Co-operation Council countries at the same time.


Latest Saudi news


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.