Tuesday, May 12, 2020

Saudi Arabia triples VAT by 15% to Counter Oil slump amid COVID-19

Saudi Arabia will triple value-added tax (VAT) and suspend a cost of living allowance for state workers, it said on Monday, seeking to shore up finances hit by low oil prices as the coronavirus pandemic pummels global demand for its lifeline export. “The cost of living allowance will be suspended as of June 1, and […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2LhRkTI

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