Sweetened drinks will be subject to a 50% levy, while e-cigarettes and their liquids will face a 100% tax
General Authority for Zakat and Tax
Latest in General Authority for Zakat and Tax
General Authority for Zakat and Tax
Saudi Arabia said to mull raising tax on local banks
Sources say Gulf kingdom is considering plans to increase an Islamic tax paid by local banks to as much as 20%
Al Rajhi Bank
Zakat payments ease pressure on Saudi bank ratings, says Fitch
Ratings agency says confirmation of Saudi banks’ extra zakat payments for years up to and including 2017 removes a key near-term uncertainty
Al Rajhi Bank
Saudi banks agree $4.5bn settlement over Islamic taxes
Al Rajhi Bank was hit with the highest payment under the Zakat levy, agreeing to pay SR5.41bn
GAZT
Saudi tax authority urges VAT registration by Dec 20
Companies who fail to register for the tax on time will be subject to penalties as per VAT law and regulations
General Authority for Zakat and Tax
Nearly fifth of Saudi retailers not complying with VAT, GAZT inspection finds
Saudi Arabia’s General Authority for Zakat and Tax VAT inspection campaign targeted 1,876 locations across the kingdom
annual revenue
Saudi businesses urged to register as VAT deadline looms
Companies with revenues of over SR1 million have until December 20 to register for VAT, which goes into effect on January 1
GAZT
Saudi Arabia to impose VAT on petrol, tax authority confirms
As deadline looms, companies not ready for the new tax – official