Saudi Arabia Tax Agency Announces VAT Amendments

The Saudi General Authority of Zakat and Tax announced VAT amendments on sales and transfers of real estate.

The announcement includes:

  1. 15 percent VAT exemption on sales, transfers, rent, and leases related to real estate
  2. The new 5 percent real estate disposal tax;
  3. Criteria to claim VAT and real estate disposal tax exemptions;
  4. The scope of the real estate disposal tax; and
  5. Developers can still claim input deductions on the transfers.

Reference:
[Saudi Arabia, General Authority of Zakat and Tax, 10/02/20]

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