VATupdate

Saudi Arabia ‘virtually only country’ to successfully raise VAT in pandemic: Minister

Saudi Arabia is “virtually the only country” that was able to successfully raise VAT from five to fifteen percent amid the challenging economic conditions brought about by the COVID-19 pandemic, the Kingdom’s Minister of Economy and Planning said.

Saudi Arabia tripled VAT in July of 2020 near the height of global COVID-19 lockdowns that caused widespread supply chain disruption.

Source: english.alarabiya.net

Sponsors:

VAT news
VAT news
www.vatupdate.com

Advertisements:

  • VAT news
  • VAT news