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VAT & Customs Duty Increases: Implications for Investment into Saudi Arabia

The Kingdom of Saudi Arabia (KSA) has recently announced that the Value Added Tax (VAT) rate will triple to 15% effective 1 July 2020. KSA is also planning to significantly increase the Customs duty rates on a number of commodities imminently. Businesses within the Fast-Moving Consumer Goods (FMCG), Automotive, Construction, and Oil & Gas sectors may be affected, potentially significantly.

Join Robert Walters and in association with Deloitte Middle East for unique insights from experts at the forefront of helping businesses navigate the changing landscape.

TOPICS DISCUSSED:

Value Added Tax (VAT):

  • Transitional provisions
  • Pricing - Dealing with vendors/customers
  • ERP & System changes
  • Impact on the business

Customs and Global Trade:

  • The recent Saudi Customs updates , including customs duty rate increase
  • Managing Customs risks in the GCC by leverage existing Customs regimes and reliefs
  • Coping with future changes and trends including digitation trends
  • Mitigating exposure – cash flow optimization and supply chain efficiencies

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