Saudi Arabia e-Invoicing
Saudi Arabia announced on December 4, 2020 that starting December 4, 2021 e-invoicing will be introduced in Saudi Arabia.
The electronic e-invoicing will apply only to resident taxpayers, not to nonresidents.
Further details about the e-invoicing system will be published within six months.
Saudi Arabia Customs Duties
Starting June 10, 2020 Saudi Arabia increased the customs duties on various products.
The rise of customs duties follows a sharp increase of the V.A.T rate from previous 5% to 15% effective July 1, 2020.
The new steps are aimed to stable the financial situation in the corona crisis period.
Saudi Arabia V.A.T. Rise
Saudi Arabia announced on May 11, 2020 that the V.A.T. which was introduced two years ago will rise starting July 1, 2020 from the present 5% rate to 15%.
The rise is aimed to stable the financial situation following a sharp decline in the Saudi revenue from oil.
In addition starting June 1, 2020 the cost of living allowance of 1,000 riyals will be suspended.
Saudi Arabia Switzerland Tax Treaty
The double tax treaty, DTA, between the two countries entered into force on February 18, 2018 applying later in future.
The tax withholding rates are 5%/15% for payment of dividends, depending on the percentage of holding by the recipient company.
The withholding rates for payment of interest are 0%/5% and 5%/7% for payment of royalties.
Saudi Arabia Jordan Tax Treaty
The double tax treaty, DTA, between Saudi Arabia and Jordan entered into force on September 1, 2017 applying from January 1, 2018.
According to the DTA the tax withholding rates will be 5% for dividends and interest, 7% for royalties.
Saudi Arabia Luxembourg Tax Treaty
The 2013 double tax treaty, DTA, between the two countries entered into force on September 1, 2014 allying from January 1, 2015.
According to the DTA the tax withholding rates for payments of dividends will be 5%.
The withholding rate for payments of royalties will be 5%/7%.
Interest income will be taxed only in the residence country of the recipient.
Saudi Arabia Malta Double Tax Treaty
Saudi Arabia and Malta signed on January 4, 2012 a treaty for prevention of double taxation between the two countries.
The DTA is expected to boost bilateral trade and investment between the two countries.
Saudi Arabia Singapore DTA Entry into Force
The double tax treaty, DTA, between the two countries which was signed in May 2010 entered into force on July 1, 2011.
Saudi Arabia Singapore New DTA
Saudi Arabia and Singapore signed on 3/5/2010 a new double taxation treaty between the two countries.
The DTA which deals with all kinds of income deals, inter alia, with exchange of tax information, reduced tax withholding rates from dividends, interest and royalties and sets out permanent establishment rules.
The treaty will enter into force after being ratified by both countries.
More info: www.iras.gov.sg
Saudi Arabia Vietnam Double Tax Treaty
Saudi Arabia and Vietnam signed on April 11, 2010 a new double taxation treaty, DTA, between the two countries , aiming to promote bilateral projects.
The agreement was signed by the Saudi king and Vietnam's president.
In addition to the DTA the two leaders signed additional agreements promoting cooperation in food and agriculte and oil and gas.
The new agreements are expected to increase the the trade between the countries, from the current $ 500 million to $ 1 billion within two or three years.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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