The Law and Implementing laws printed during this section articulate and outline the principles and procedures regulation the implementation of VAT and also the legal parameters of the words, articles and statements touching on VAT Law and VAT Implementing laws.
The Unified Agreement for price additional Tax (VAT) of the Cooperation Council for the Arab States of the Gulf
The Unified Agreement for VAT of the Cooperation Council for the Arab States of the Gulf was revealed by UM AL-QURA in its issue range 4667 dated H1438/7/24. This agreement is to line forth the unified legal framework to introduce VAT within the GCC states, which is able to be obligatory on the provision of products & services. The Kingdom’s approval of the agreement was issued by Royal Decree (number m/51 dated H3/5/1438).
In order to access the Unified Agreement for VAT of the Cooperation Council for the Arab States of the Gulf, please follow this link
This Unified Agreement for VAT of the Cooperation Council for the Arab States of the Gulf should be backward into domestic legislation across the GCC Member States, per se KSA VAT Law and draft Implementing laws are developed.
The VAT Law defines the introduction of VAT printed within the Unified Agreement for VAT of the Cooperation Council for the Arab States of the Gulf, it had been applied on first Gregorian calendar month 2018 (H1439/4/14).
The VAT Law was formally approved and revealed on H1438/11/4.
VAT Implementing rules
The VAT Implementing rules expand on the areas lined among the KSA VAT Law, particularisation rules for implementation and giving taxpayers sufficient data to complete their VAT compliance necessities. The Implementing rules cover:
- Taxable Persons
- Supplies of products and services
- Place of provide
- Exempt provides
- Zero-rated provides
- Value of subject provides
- Calculation of Tax collectible
- Procedure and administration
- Refunds of Tax
- General provisions
The VAT Implementing rules were formally approved on H1438/12/4.