- VAT Refund for Tourists: Saudi Arabia has implemented new regulations enabling visitors to claim back value-added tax (VAT) on their purchases, aimed at boosting the tourism industry in the country.
- E-commerce Tax Collection: In addition to the VAT refund for tourists, the Saudi government plans to expand its tax base to include online transactions, requiring e-commerce platforms to collect VAT.
- Highest VAT in the GCC: Saudi Arabia currently has the highest VAT rate among Gulf Cooperation Council (GCC) countries, reflecting its efforts to diversify the economy and generate revenue beyond oil production.
Source agbi
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