The Zakat, Tax and Customs Authority (‘ZATCA’, formerly known as GAZT) has published a new guide to provide further clarifications in relation to insurance and reinsurance activities and related VAT implications. The guide highlighted the services that will be recognized under insurance/ reinsurance activities and provided the applicable VAT treatments in relation thereto.
ZATCA also clarified VAT implications of insurance claims, and principles relating to input VAT deductibility.
Source PwC
