Value Added Tax in Saudi Arabia: A Comprehensive Framework and Detailed Analysis

Value Added Tax in Saudi Arabia: A Comprehensive Framework and Detailed Analysis

Value Added Tax in Saudi Arabia is one of the most prominent types of indirect taxes and a significant source of government revenue. In the Kingdom of Saudi Arabia, Value Added Tax in Saudi Arabia was first implemented on January 1, 2018, as part of the Kingdom’s Vision 2030, which aims to diversify sources of…

Value Added Tax (VAT): Definition, Its Rate, Its Benefits, and How It Works

Value Added Tax (VAT): Definition, Its Rate, Its Benefits, and How It Works

Value Added Tax (VAT), sometimes referred to as a consumption tax, is an indirect tax imposed on the consumption of goods and services. VAT is a widely used tax system applied in most countries around the world, including Saudi Arabia. Although Value Added Tax is collected at each stage of production and distribution, the end…