Saudi Arabia to increase VAT from 5% to 15% from 1st June

Saudi Arabia is tripling its value-added tax (VAT) as part of austerity measures to support its coronavirus-hit economy. Saudi Arabia’s state news agency has said that VAT will be increased from 5% to 15% as of 1 July. The cost of living allowance will be also be suspended from 1st June, in order to shore up […]

Saudi Arabia to increase VAT from 5% to 15% from 1st June