Changes Made to Value-Added Tax in Saudi Arabia: Finance Minister

Mohammed Al-Jadaan, Finance Minister of Saudi Arabia and Chairman of the Board of Directors of the Zakat, Tax and Customs Authority, said that a decision has been taken to change the expiration date of the value-added tax in Saudi Arabia and that this would come into force in early November 2021.

Why it Matters?

This initiative has been taken as part of the government’s efforts to provide increased chances for the private sector to expand and operate as well as to make the business environment less challenging and remove obstacles.

Details

The amendment that was made to the regulation included the modification of the date of supply and the right to value-added tax on all supplies of goods or services made by e...