In the early hours of this morning, Wednesday, the first of July 2020 AD, the decision of Saudi Arabia, according to the local time of the Kingdom, in order to raise the rate of value-added tax to 15%, comes into force on all goods and services subject to it in the commercial markets, after the announcement of the order Royal No. (A / 638) amending Article (2) of the value-added tax system, which includes raising the tax rate from 5% to 15% on the eleventh of last May.
In a related context, according to the correspondent of Al-Mukhtasar News newspaper, the General Authority for Zakat and Income calls on all taxpayers registered in the Kingdom of Saudi Arabia in the value-added tax to verify the readiness of their facilities, and to familiarize themselves with all the transitional provisions related to raising the tax rate, by reviewing the guideline for the transitional provisions related to By raising the value-added tax rate, as all taxpayers can access it through the following link: (https://bit.ly/3icij2i).
In this regard, the General Authority for Zakat and Income in the Kingdom of Saudi Arabia urges citizens and residents to verify the elements of the tax invoice, which are: the name of the store, the date of purchase, the tax number, and the value-added tax field, calling on them to cooperate with it and report any violating establishment in the event that no These elements are provided through the authority’s website (gazt.gov.sa), and through the (added tax) application for smartphones.
Likewise, the Zakat and Income Authority may invite taxpayers wishing to obtain more information about tax regulations in the Kingdom and to comply with their provisions, to visit the Authority’s official website (gazt.gov.sa), or contact the Authority through the unified call center at (19993), or Through the Authority’s Customer Care Twitter account (@GAZT_CARE).
On the other hand, newspapers in the Kingdom of Saudi Arabia revealed that Saudi Aramco announced fuel prices after the implementation of the amendment to the value-added tax to 15%.
For its part, Aramco in the Kingdom of Saudi Arabia confirmed, in a statement issued, in the early hours of Wednesday night that gasoline prices after raising the value-added tax and from 1 to 10 July: Gasoline 91 becomes 0.98 riyals per liter, gasoline 95 becomes 1.18 Real per liter