“From November 1 …” Great relief for the Saudi government

Riyadh: The Saudi government has approved amendments to some points of the value-added tax, the new law will be implemented from November 1, which will benefit many sectors.

According to Arab media reports, the Saudi Zakat, Tax and Customs Authority has approved amendments to certain points of the value-added tax, which set a date for deducting “watts” from contractors contracting with government agencies. , Which will benefit the relevant institutions.

The report said that the amendment has been made with reference to the date of supply and payment of tax by a private contractor with government agencies.

The move will also benefit suppliers working with government agencies and various service providers.

Saudi Finance Minister Mohammed al-Jadaan says private companies working with government agencies by the Zakat and Tax Authority will benefit greatly from an amendment to the tax payment system.

He further said that the incentives given by the government to the private sector through the new amendment were valuable which would be of great benefit to the private sector.

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