Saudi Arabia will apply a value added tax (VAT) of 5 percent on gasoline starting Jan. 1 2018, the Kingdom’s General Authority of Zakat and Tax (GAZT) said on its official Twitter account, in response to a citizen’s inquiry.

 

The oil sector, oil derivatives, and local gas are subject to VAT, according to GAZT regulations.

 

Saudi Arabia and the United Arab Emirates will introduce a 5 percent VAT on Jan. 1 next year, as part of broader fiscal reforms across the region to reduce oil dependence and diversify sources of public revenue.

 

Gasoline and Diesel Prices

Commodity

Before VAT (SAR)

After VAT (SAR)

Gasoline 95-octane

0.90

0.945

Gasoline 91-octane

0.75

0.788

Diesel

0.45

0.473

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request