KSA issues new guides on the transportation sector and transitional provisions has been saved
KSA issues new guides on the transportation sector and transitional provisions
The Kingdom of Saudi Arabia (KSA) General Authority of Zakat and Tax (GAZT) issued two new Value Added Tax (VAT) guides in Arabic, on the transportation sector and transitional provisions.
The transportation guide is aimed at businesses operating in the international and domestic transportation and shipping sectors and their goods and services suppliers. It provides more insight on the VAT treatment of the industry as a whole.
The transitional provisions guide is intended to provide further clarification on the transitional provisions addressing the application of VAT as of 1 January 2018 under three key themes:
- The application of VAT on purchases made before and after 1 January 2018
- Special provisions allowing zero-rate on certain contracts
- Other transitional provisions for intra-GCC transactions