Infographic: A guide to VAT in Saudi Arabia
Saudi Arabia operates one of the world’s newest VAT systems, having only adopted the tax on 1st January 2018. Despite the nation implementing a relatively simple set of rules, rates and regulations, many businesses in the region have struggled to implement it effectively over the last three years.
As such, cases of non-compliance have been relatively common and the Saudi authorities have even carried out investigations into offending companies and issued significant penalties.
We’ve put together this infographic to support tax professionals currently getting to grips with all the latest features and nuances of VAT in Saudi Arabia. We hope it helps!