Media ININ Economy We Trust
MediaIn / Riyadh / Agencies
VAT.GOV.SA has published a set of guidelines for different sectors and activities, each containing information and clarifications regarding tax transactions and how they are applied, with the aim of supporting enterprises registered with VAT and facilitating tax compliance rules.
The guides covered the following sectors and activities: real estate, transport, tax collections, health care, the digital economy and economic activity, as well as transitional provisions. The Commission confirmed that it would publish further guidance for other sectors and activities in the next phase, as well as periodically update the manuals.
The Real Estate Sector Guide is intended for real estate companies in the Kingdom, including those who sell or rent commercial or residential properties.
The guide for the transport sector is aimed at establishments operating in the sectors of international and domestic transport and shipping as well as suppliers of goods and services for these sectors. The importance of this guide is to clarify the tax treatment of this sector within the value added tax system. From the health care and digital economy sectors.
With regard to the transitional provisions guide, it aims to clarify the transitional provisions on value added tax for all natural and legal persons engaged in economic activity and wish to supply or receive goods or services on or after 1 January 2018 or thereafter relating to contracts entered into before the commencement of application the system.
The tax collections guide represents the vision of the Zakat and Income Tax Authority regarding the application of value added tax to tax groups. It includes an explanation of the articles on tax collections provided by the VAT system and its executive regulations.
The Zakat and Income Tax Authority has invited enterprises to visit the VAT.GOV.SA website for VAT, which includes a wide range of tools and information specifically designed to assist people subject to VAT, including visual guidance materials, all relevant data and frequently asked questions.
