Shoura approves VAT law

RIYADH – The Shoura Council on Wednesday approved the draft Value Added Tax (VAT) law. It also stressed the need for activating the uniform program for Citizens Account prior to implementing VAT.

Yahya Al-Samaan, assistant president of the Council, said that the Council took the decision after listening to the report of the financial committee on VAT, read out by its chairman Osama Al-Rabiah.

He said that the draft law is in line with the provisions of the uniform agreement, signed by the Gulf Cooperation Council (GCC) states to implement VAT.