Posted by : Aahil Shaik Friday, December 29, 2017
SAUDI ARABIA TO REFUND PAID VAT TO VISITORS, TOURISTS & PILGRIMS
Saudi Arabia is working on a mechanism to refund Value Added Tax (VAT) to tourists and Hajj & Umrah visitors, As this mechanism is still in process it will not applicable in the first few months of 2018.
The General Authority of Zakat and Tax (GAZT) is responsible for VAT implementation, administration and management, So they are also preparing a way to payout the paid VAT to the Hajj & Umrah pilgrims, Tourists and Non GCC Visitors.
- GAZT (General Authority of Zakat & Tax) may open VAT reimbursement offices at many places of Saudi Arabia including at Saudi Airports and at the borders of other countries in the Kingdom.
- For VAT reimbursement to pilgrims, tourists and visitors need to submit application to the list of service providers for their reimbursement.
- Visitors and Tourists from GCC countries will not get any reimbursement on the paid Value Added Tax (VAT), Similarly, Expats of GCC countries are also not applicable to get VAT reimbursement.
- More than 83,000 companies have registered for VAT System in Saudi Arabia till now, Companies which are not yet registered for VAT system will be fined.
- Saudi Arabia and UAE are committed to impose VAT from Jan 1st 2018, While Bahrain and Qatar is planning to implement VAT from mid of 2018, Kuwait and Oman are expected to delay till 2019.