Riyadh – Mubasher: The Saudi cabinet on Monday approved the GCC unified value-added tax (VAT).
The cabinet also agreed on the GCC unified selective tax, according to Saudi Press Agency (SPA).
At the beginning of January, the Saudi minister of finance said that the application of the selective tax had not started on some goods, adding that the targeted date for the application will be in April 2017.
The Kingdom previously announced that it will apply a 5% VAT in 2018, as agreed between the GCC.
