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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.


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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara