Posted by : Aahil Shaik Monday, November 20, 2017
SAUDI TO COLLECT 5% VAT ON OIL & ON TRANSPORT TICKETS WITHIN KSA
On the query of a Saudi citizen on Twitter, The General Authority of Zakat and Tax has confirmed that there will be a Value Added Tax of 5% on fuel starting from January 1st 2018. Recommend : VAT on tobacco products, energy and soft drinks
Last week it is also in indication that there will be VAT on the transport journey tickets within the Kingdom, However there will not be any VAT on international travel tickets. Trending : Saudi VAT on money transfer fee
- Before the implementation of VAT on fuel prices, Saudi Arabia is in a plan to increase the fuel prices by this year end.
- Earlier The General Authority of Zakat and Tax said there will be a 5% of VAT on the fee of remittance centers or money transfer centers, but the products like loans and accounts would be exempt. Related : VAT on private school fee, Electricity, Mobile and water bills