Loyal Lovin readers can support Lovin so we can continue to share the stories of all amazing cities
Minimum custom amount to enter is AED 2
By donating, you agree to the Privacy Policy and Terms of Service
Saudi Arabia Is Going To Start Implementing Vat On Petrol By January 2018 But A Few Things Will Be Exempt
Saudi’s General Authority of Zakat and Tax (GAZT) has stated that the standard Value Added Tax (VAT) will now be implemented in the Kingdom, adding a 5% VAT when purchasing petrol.
Discovering this came in a form of a response to someone’s online question asking if there would be a VAT price for gas.
Accorsing to GAZT, the VAT rate of 5% for petrol will be implemented starting January 1st, 2018
Gulf News reported that the decision came as part of the VAT Agreement for the GCC and the VAT Implementing Regulations.Â
What will be exempt from VAT?
There will be a ZERO-rate, however; for the international transport of passengers and goods, according to the Unified VAT Agreement for the GCC..Â
Recommended
Architectural Designer Turns Riyadh’s Iconic Buildings Into Jaw-Dropping Sketches
Weather Alert: Showers In Makkah Region Bring Risk Of Flash Floods And Hailstorms
Pakistani Worker Stuns Sheikh Sudais With Elegant Quran Recitation- storage and port charges
- parking fees
- transport-related payments
- excess baggage and seat reservation feesÂ
- aircraft crews and air navigation servicesÂ
…..
Withdrawing money from an ATM, car deals between a person or purchasing cars from a garage won’t have VATÂ
So we’re all still pretty safe there.
Selling your apartments or homes to first-degree relatives or having it rented out also won’t be included in the vAT charges
Sell away?
Cash transfers from banks, credit cards, leasing, insurance, finance and investment fundsÂ
All exempt..
Newsletter