KPMG Posts FAQs on Saudi VAT Spike
KPMG posted a series of questions and answers regarding Saudi Arabia’s recent spike in value-added taxes (see 2005110024). In a May 18 post, KPMG said it expects the Saudi government to issue industry guidance on the change before it takes…
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effect July 1. The firm also provided guidance on how the rate may apply to goods and services received before the effective date but invoiced after, how the changes will impact contracts, a potential grace period and more.