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No VAT levy on cash withdrawals from other banks

KSA
GDN Online Desk


ATM cash withdrawals from other banks will not be subjected to the five per cent Value Added Tax (VAT), according to Almarsd.

The Saudi Consumer Protection Society denied the alleged levy on cash withdrawals from a different bank.

Saudi Arabia was the first GCC member to announce the VAT fee, which will come into effect on January 1, 2018.

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