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Saudi tax authority: No VAT on exports

Saudi tax authority: No VAT on exports

Jeddah : Saudi Arabia’s General Authority of Zakat and Tax (GAZT) clarified that exports are zero-rated under the VAT Law and Implementing Regulations. This means that in Kingdom enterprises exporting goods and services can deduct the VAT-eligible input taxes they ...

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Saudi elites released after ‘corruption settlements’

Saudi elites released after ‘corruption settlements’

Riyadh : Prominent businessmen in Saudi Arabia, detained in November in an anti-corruption purge, have been released after reaching financial settlements with the Kingdom authorities, a media report said. Among those set free on Friday were Waleed al-Ibrahim, the head ...

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Saudi Arabia: Transforming the face of a Kingdom

Saudi Arabia: Transforming the face of a Kingdom

By Nilova Roy Chaudhury, There is a huge buzz throughout Saudi Arabia as the hitherto conservative Kingdom — seen as the religious font of Islam and home to its holiest shrines — gets ready to welcome women into its sports ...

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Saudi ups India’s Haj quota by 5,000

Saudi ups India’s Haj quota by 5,000

New Delhi : More pilgrims can now proceed for Haj this year as Indias quota of pilgrims has been hiked by 5,000 by Saudi Arabia, the government announced on Tuesday. The decision by Riyadh came days after Union Minority Affairs ...

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20 Saudi officials, princes accused of corruption released

20 Saudi officials, princes accused of corruption released

Riyadh : Around 20 Saudi Arabian princes and officials accused of corruption were released after accepting financial settlement, local media reported Monday. Among those released were a former official of the Finance Ministry and a number of businessmen, an advisor ...

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Saudi-led coalition to keep Yemeni port open

Saudi-led coalition to keep Yemeni port open

Riyadh : The Saudi Arabia-led Arab coalition on Wednesday announced it will allow Yemen’s main port to remain open for 30 days to receive humanitarian aid. The coalition said it would permit the entry of commercial ships, including those carrying ...

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