JEDDAH: The General Authority of Zakat and Tax (GAZT) clarified that Saudi Arabian exports are zero-rated under the VAT Law and Implementing Regulations.
This means that in-Kingdom enterprises exporting goods and services can deduct the VAT-eligible input taxes they paid, as long as they file their tax returns as required.
GAZT stressed that the provision of zero-rating exports is one of many incentives given under the VAT to enterprises exporting goods and services.
In order to apply the zero rating, the supplier of goods and services must retain evidence that they have been transported from the Gulf Cooperation Council (GCC) region, within 90 days after supply, as stipulated in Article 32 of the regulations.
All intra-GCC supplies will be zero-rated as an interim measure until VAT is officially implemented in the remaining member nations and electronic VAT system is established across the GCC.
All exporting enterprises must retain the relevant documents, including those issued by Saudi Customs, which prove that the supplies have been formally cleared for export on behalf of the supplier or customer for each supply, commercial documents with the customer’s details and place of delivery, as well as transport documents for the delivery or receipt of the supplies outside the GCC region.
GAZT may reject the documents if they fail to provide sufficient evidence that the supply was transported outside the GCC region, and the standard 5 percent VAT rate will apply.
GAZT also reminded all VAT registered enterprises with annual supplies exceeding SR40 million ($10.7 million) to file monthly tax returns, as stipulated by the VAT Law and Implementing Regulations.
No VAT on exports: Saudi tax authority
No VAT on exports: Saudi tax authority
Masam destroys 5,700 mines, ammunition in Mukalla
- Osama bin Yousef Al-Qusaibi: Operation was successfully carried out in a safe area far from populated areas and agricultural lands
- Al-Qusaibi highlighted that the teams’ work continues throughout the year, given the importance of protecting the lives of innocent civilians
RIYADH: Saudi Arabia’s Masam Project for landmine clearance in Yemen destroyed 5,754 mines, unexploded ordnance and improvised explosive devices on Thursday morning in Mukalla.
The operation was part of the project’s efforts to protect civilians and clear civilian lands and infrastructure, a press release said.
The destroyed materials included 5,500 rounds of 12.7 mm ammunition, five air-to-surface missiles, 10 guided missiles, four anti-tank mines, 20 anti-personnel mines, 37 mm shells (50), 23 mm shells (120), 12 hand grenades, and 82 mm mortar rounds (33).
Masam’s director general, Osama bin Yousef Al-Qusaibi, said that the operation, conducted in cooperation with the National Mine Action Program and the Yemen Executive Mine Action Center in Mukalla, “was successfully carried out in a safe area far from populated areas and agricultural lands.”
He added that the team adhered to international standards for destruction operations, despite the challenges on the ground.
Al-Qusaibi highlighted that the teams’ work continues throughout the year, given the importance of protecting the lives of innocent civilians.
It aims to rid Yemen of all mines to help ensure the highest standards of safety and security for the Yemeni people.
