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Category: Saudi Arabia

Kingdom of Saudi Arabia Announces Increase in Value Added Tax

Kingdom of Saudi Arabia announces Increase in Value Added Tax

The Saudi Arabian Government recently announced that the VAT or Value Added Tax will be increased from 5% to 15% as of July 1st, 2020. The increase is one of several measures that have been taken in response to steadily declining government revenues associated with the impact of the Coronavirus on the Saudi Arabian economy.