Riyadh – Mubasher: The Saudi General Authority of Zakat and Tax (GAZT) on Sunday announced goods and services that will be exempted from the value added tax (VAT).
VAT-free services and goods include international transport from Saudi Arabia to abroad, as well as goods that will be exported to the GCC states, GAZT added.
Saudi Arabia is set to apply the VAT by the beginning of 2018.
The VAT is a composite tax which is imposed on the differential between cost price and selling price of goods, it is applied on production’s cost, and considers an indirect tax.
