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Saudi Arabia VAT rating update

  • Nov 12, 2017 | Richard Asquith

Saudi Arabia VAT rating update

The Saudi Arabian tax office (GAZT) has provided further details on the VAT zero-rating and exemptions of a number of supplies. These include:

Zero-rated

  • High-purity supplies of gold and silver precious metals
  • Medical supplies provided by the Ministry of Health

Exempt

  • Issuance, transfer, or receipt of finance services, including loans, credit cards, mortgages, finance leases, banknotes and bank accounts
  • Provisions of credit or life insurance contracts
  • Rental of residential real estate

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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 can be contacted at: richard.asquith@avalara.com. He is part of the European leadership team which won International Tax Review's 2019 Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.