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Rumors Have Been Spreading That The Saudi VAT Rate Is Getting Reduced

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A rumor had been spreading that the  Value-Added Tax (VAT) rate in Saudi Arabia is going to be reduced to seven percent.

The current tax rate is 15%

International news publication, Reuters, stated that the change in the tax rate would be implemented from October 1.

However, it has been clarified that the news is false.

A Saudi economic expert is, however, expecting a tax rate cut

Read Next: Only Vaccinated People Will Now Be Allowed To Access Public Spaces

Saudi Arabia announced this week that it will be restricting access to public spaces to only those who have been vaccinated.

This rule will be implemented from August 1, according to the Kingdom’s Ministry of Municipal and Rural Affairs

Unvaccinated individuals will be barred from entering public establishments, such as malls, restaurants, retail stores, and markets, among others. Anyone visiting these spaces will need to show proof of vaccination.

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