Is value-added tax being abolished in Saudi Arabia?

Riyadh: Saudi Finance Minister Mohammed al-Jadaan has expressed hope that the kingdom will review the value-added tax rate once the financial situation improves.

In a statement, the minister said that in Saudi Arabia, zakat, taxes and other laws, including the tax authority, apply and the policy comes from the government.

Muhammad al-Jadaan said that if investors are unhappy with their tax level, the system in the country gives them the right to lodge a complaint or objection.

Saudi Finance Minister Mohammed al-Jadaan

One month after Saudi Arabia suspended the cost of the allowance in July 2020, the value-added tax was increased to reduce the impact of the epidemic on the economy.

Saudi Arabia announces three-fold increase in value-added tax and abolition of housing allowance

Earlier, the state’s Zakat Tax and Customs Authority (Zatka) said that all food items, including bread, fall under the value added tax.

The authority had said that in case the food items are being sold through a company registered in value added tax, 15% value added tax will be levied on all food items including bread, all of them by the company registered in the value added tax system. Must be sold.

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