15% is temporary and will last one to five years, then it will go down to between 5% to 10%

“Raising VAT was a painful measure and I hate to hurt any Saudi citizen, but it is my duty to build Saudis a long-term sustainable future,” the prince said in an interview aired on Saudi TV to mark the fifth anniversary of Vision 2030.

We are targeting it to be between 5 to 10 percent, only till we reinstate our balance after the pandemic.

Sources:

• reuters.com
• arabnews.com

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