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21 October 2017 ARCHIVES  |  SEARCH  |  POST ADS  |  ADVERTISE  |  SUBSCRIBE   |  LOGIN   |  CONTACT US

Saudi to levy VAT on sale of camels, falcons, gold and old cars

KSA
GDN Online Desk



A Value Added Tax (VAT) will be levied in Saudi Arabia on sale of camels, falcons, jewellery and used cars, in addition to consultancy services, according to Okaz newspaper.

The VAT levy will take effect in January 2018, but construction companies will be granted a grace period till 2019 to regulate their situations.

“The sale of camels and falcons represent trade activities which fall under the VAT regulations,” said an official from the General Authority of Zakat and Tax (GAZT).

GAZT legal team chief Mesfar Al Dahim unveiled the scheme during a VAT workshop which was hosted by the Chamber of Commerce and Industry in Dammam, in the Eastern Province.

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