On 11 May 2020, the Saudi Arabian government announced that
the standard VAT rate would increase from 5% to 15% as of 1
July 2020. A signi铼cant increase in the VAT rate will impact many
aspects of the insurance industry, not least its effects on unearned
premium reserves (UPRs).
Source: keypoint.com
Latest Posts in "Saudi Arabia"
- ZATCA’s 2025 Guide: VAT Rules for E-Market Platforms and Deemed Supplier Obligations in KSA
- Saudi Arabia Revises Customs Tariffs, Increases Duties, and Updates HS Codes Effective 2025
- Saudi Arabia Extends ZATCA Tax Penalty Waiver Initiative Until June 2026
- Saudi Arabia Updates VAT Rules for Online Marketplaces, Amends Excise Tax on Sweetened Beverages
- Saudi Arabia Clarifies VAT Deemed Supplier Rules for Electronic Marketplaces
