Results for
vat
50 Results-
Saudi Arabia’s inflation jumps 6.1 percent following VAT tax hike
Saudi Arabia’s consumer price index jumped 6.1 percent in July compared with a year earlier, boosted by a tripling of value-added tax, official data ... Economy -
Saudi Arabia VAT tax triples to 15 pct on July 1: All you need to know amid COVID-19
Saudi Arabia will be tripling its value-added tax (VAT) rate on July 1, from 5 percent to 15 percent.The announcement came in mid-May following a wave ... Features -
Saudi Arabia inflation eases as VAT rate jump moves closer
Saudi Arabia’s consumer price index rose 1.1 percent in May from a year earlier, a smaller annual increase than in previous months as food price hikes ... Economy -
Jobs, health priority in coronavirus spending cuts, VAT hike: Saudi Finance Minister
The health care and livelihood of the Saudi Arabian people are the main priorities for authorities, said Finance Minister Mohammed al-Jadaan in an ... Coronavirus -
Coronavirus: UAE delays due date for VAT payments
The United Arab Emirates tax authority said on Tuesday it was extending to May 28 the due date for payment of the value added tax (VAT) period ending ... Coronavirus -
Saudi Arabia should consider raising VAT rate to 10 percent: IMF
The International Monetary Fund (IMF) has suggested in a report that Saudi Arabia should consider raising VAT from five to 10 percent, in consultation ... Economy -
GCC fiscal reform progress slow and uneven: Report
Most GCC states will continue to run fiscal deficits and accumulate debt despite policy measures taken to slow fiscal deterioration, assuming oil ... Economy -
Should the Gulf countries ditch customs taxes?
The Gulf Cooperation Council (GCC) countries currently have a single market with a common external tariff of five percent. The introduction of a value ... Middle East -
Egypt’s top administrative court lifts ban on Uber, Careem services
Egypt’s top administrative court on Saturday lifted a ban on operations by ride-hailing companies Uber and Careem, which have faced fierce ... Technology -
Oman’s actual budget deficit 2.7 bln rials in 2018
Oman’s budget deficit was 2.7 billion rials ($7 billion) in 2018, less than projected because of higher revenues, state news agency ONA said on ... Opinion -
IMF sees no credit crunch in Oman, advises speedy fiscal reforms
Oman is not facing a credit crunch but the Gulf Arab oil producer should speed up implementation of fiscal reforms like the introduction of a ... Economy -
Bahrain oil products to be excluded from VAT implementation
Bahrain will exclude oil products from a value-added tax (VAT) due to be implemented next year, part of an essential goods exclusion from the tax, Oil ... Energy -
Economy, VAT dominate discussions among voters in Bahrain’s local elections
As Bahrain gears to hold its fifth parliamentary and municipal elections, the impending implementation of Value-Added-Tax and rising inflation rate ... Economy -
Bahrain’s parliament approves draft VAT law
Bahraini legislators approved a draft law on Sunday that would see value-added tax (VAT) imposed for the first time in the kingdom, starting from 2019 ... Economy -
UAE tourists to get VAT refund starting November
The United Arab Emirates will be refunding its 5% value added tax (VAT) on all goods and services to millions of tourists starting November, according ... Economy -
UAE Cabinet approves VAT refund for tourists
The UAE Cabinet has adopted a decision to implement the Value Added Tax refund system for tourists, which will integrate between retail outlets with ... Economy -
Kuwait to postpone VAT implementation to 2021, says parliament committee
Kuwait will not implement value-added tax before 2021 but will push ahead with introducing excise tax, parliament's budget committee said in a ... Economy -
Bahrain EDB chief says country to expect VAT implementation in 2019
Manama - The CEO of the Bahrain Economic Development Board, Khalid al-Rumaihi, confirmed to Al Arabiya on the sidelines of the Gulf Gateway investors ... Economy -
UAE vendors hope for tax relief on gold following drop in sales
Following a plummet in gold jewelry sales in the UAE by almost 50 percent, jewelry vendors are hoping for a tax relief on the precious metal.The ... Economy -
Dubai freezes government fees for three years
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, has issued an order to freeze Dubai Government fees for a period of three years, state news agency ... Economy -
No plans to raise VAT in the UAE for the next 5 years, minister says
The UAE has no plans to raise the rate of value-added tax (VAT) in the near future, according to Minister of State for Financial Affairs Obaid Al ... Economy -
Saudi Arabia issues 7 new VAT guidelines to support registered companies
The Saudi General Authority of Zakat and Tax (GAZT) has issued seven guidelines for various sectors related to tax transactions and implementation. ... Economy -
Getting into the saving habit in the Gulf
Given the economic uncertainties of higher inflation and the introduction of VAT taxes, consumer spending in the Gulf has taken a bit of a battering. ... Middle East -
Saudi royal handouts to cost about $13 billion, minister says
A package of handouts to Saudi citizens to compensate them for cost of living increases will cost the government about 50 billion riyals ($13.3 ... Economy -
Saudi Arabia, UAE introduce VAT in first for Gulf
Saudi Arabia and the United Arab Emirates introduced value-added tax from Monday, a first for the Gulf. Saudi Arabia also announced a hike of up to ... Economy -
Oman postpones VAT introduction until 2019
Oman will delay the introduction of a 5 percent value-added tax until 2019 instead of introducing it next year as originally planned, local media ... Economy -
How will Saudi Arabia’s non-oil revenues be generated in 2018?
The Saudi budget data released by the Ministry of Finance showed a steady improvement in the financial situation in Saudi Arabia compared to last year ... Economy -
Saudi Arabia estimates revenue of SR85 billion from Goods and Services Tax
The Ministry of Finance in Saudi Arabia said that they expect to make a revenue of SR85 billion once the Goods and Services Tax (GST) is implemented ... Economy -
Dubai threatens price gougers with fines before VAT introduction
Dubai warned retailers on Sunday that they would face fines if they tried to use next month’s introduction of value-added tax in the UAE to ... Economy -
Saudi Arabia to impose 5 percent VAT on gasoline from 2018
The Saudi General Authority for Zakat and Income (GAZI) said the government will impose a 5% Value Added Tax on gasoline as of January 2018. GAZI ... Economy