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Following the issue of the final VAT law on 28 July 2017, the Kingdom of Saudi Arabia has published its final VAT implementing regulations.
As KSA has now issued the full VAT legislation, which comprises the law and the regulations, businesses have the complete set of information necessary in order to analyse the VAT implications for their operations, people, processes, contracts and IT systems and to prepare before 1 January 2018.
The key features of the KSA VAT regulations are as follows:
With less than 4 months left until VAT is implemented in KSA, Al Tamimi will be happy to undertake a VAT impact assessment to help you understand the impact of VAT on your business and to enable you to comply with your VAT obligations.
If you have any questions on the above or require any assistance with VAT implementation, please do not hesitate to contact us.
Shiraz Khan, Senior Tax Advisor, Al Tamimi & Company
Ahmed Ibrahim, Partner & Head of Equity Markets, Al Tamimi & Company
Grahame Nelson, Partner, Head of Office – Riyadh
Disclaimer: This chat service should not be relied upon as a substitute for professional advice which takes account of your specific circumstances and any changes in the law and practice. No warranty is made as to the accuracy or completeness of the information provided via this service and no liability is accepted by Al Tamimi & Company Limited, its affiliates, partners or employees for any loss arising as a result of reliance upon the information provided.
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