Posted by : Aahil Shaik Monday, June 29, 2020
All Retail Activities in Saudi Arabia are required to provide electronic Payments by 25th August
The National Program to combat commercial trade cover-up renewed the alert on retail activities in all regions of the Kingdom by requiring them to provide one of the electronic payment solutions within the compulsory initiative launched by the program within 14 months. Trending : 3 conditions to transfer worker without Employer knowledge
The program said: “Starting from August 25, all retail activities that were not previously required are required and thus all commercial activities are obligated to provide an electronic payment solution within the compulsory initiative launched by the National Program to Combat Trade Coverage within 14 months.” Recommend : E-Commerce transactions of imported goods are subjected to be 15% VAT from July 2020
- All the retail outlets will be obliged to use the electronic payment system in their trade activities. This will give a customer the choice to use different means of payment in addition to the cash payment.
- The program was started from 14th July 2019 in coordination with Ministry of Commerce and Investment, the Ministry of Municipal and Rural Affairs and Saudi Arabian Monetary Authority. Read : GACA begins facilitating return of health practitioners to Saudi Arabia
- All gas stations and their relative service centers will also be obliged to provide e-payment systems, The decision to be fully implemented on all trade activities by 25th August 2020.