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From January 1, 2018, Saudi Arabia won’t be a tax-free country. Do you know how this will affect you as an expat?

In less than one month, Saudi Arabia will start having taxes and residents in the country will notice how most of goods and services suffer a price increase. This is due to the Value Added Tax – also known as the VAT

Aren’t you familiar with it? Then, keep reading…

The VAT

The VAT is an indirect tax (also called “a general consumption tax”) which is applied to most supplies of goods and services that are bought and sold.

How will it affect me?

VAT will be introduced at a standard rate of 5%. Thus, any person buying products or using services in the Kingdom will notice a general increase in the prices. Probably, this will also translate into an overall increase in the living costs.

Which products will be subject to VAT? 

Some products will be exempted from the VAT and other ones will have a VAT of 0%. For example, public education is exempted from the VAT, but not the private one.

You can find a general overview from The General Authority of Zakat & Tax here.

 
Getting ready for VAT

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