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VAT

GCC Indirect Tax Newsletter – September 2020

The Kingdom of Saudi Arabia (KSA)

  • E-Invoicing – Draft Regulations
  • New Royal Order impacting Real Estate Transactions
  • Tax amnesty timeline extension and initiative related to appeals
  • New amendments to the VAT Implementing Regulations
  • Circular issued by GAZT on Transfer of Real Estate under Going Concern
  • Real Estate Transaction Tax – A new tax introduced as of 4 October 2020
  • Real Estate Transaction Tax – Electronic services
  • Guide issued on new Real Estate Transaction Tax (‘RETT’)

The Kingdom of Bahrain (Bahrain)

  • NBR releases an updated version of the VAT Real Estate Guide

Source PwC

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