Saudi Arabia VAT regime details
- Jul 23, 2017 | Richard Asquith
Implementation regulations have been issued for the 2018 Saudi Arabia VAT regime.
The implementation regulation adds lengthy details to the recently published VAT implementation legislation. This in turn is based on the Gulf Co-Operation Council (GCC) VAT Treaty, which provides broad guidance on the VAT regime to be introduced in 2018 in all 6 GCC states.
The regulations cover:
- VAT registrations
- VAT returns
- Allowable deductions
- VAT rates, including zero rated and exempt supplies
- Tax point
- Place of supply
- VAT invoices
- Record keeping
Join Philippe Norré, Head of Indirect Tax for Bahrain and Qatar at KPMG and Kid Misso, Senior Director of Solution Consulting at Avalara for a short webinar about Saudi Arabia's draft VAT legislation.