Saudi Arabia raises VAT from 5% to 15%

News & Politics
1

Saudi Arabia is suspending the cost of living allowance and increasing the value-added tax (VAT) as part of measures to address the impact of the COVID-19 crisis, the Saudi Press Agency (SPA) reported on Monday.

“Cost of living allowance will be suspended as of June first, and the value added tax will be increased to 15% from 5% as of July first,” SPA said, citing statement of the Ministry of Finance.
[SIZE=1]VAT is imposed at each stage of the supply chain from the production and distribution to the final sale of the good or service. Saudi Arabia imposed VAT on January 1, 2018 (Rabi Al-Thani 14, 1439). VAT was introduced at a standard rate of 5%.[/SIZE]

https://encrypted-tbn0.gstatic.com/images?q=tbn%3AANd9GcTvYO_sLvACyswRinw_AENvJRijcDyUkM0q8WPT_d8WcILFNmni&usqp=CAU

In other news CS Ukur Yatani is also preparing his surprise for Kenyans

2

Anatupangia makuu!!

3

Toll roads are coming back.

4

Where will they be situated? Will these affect small vehicles?

5

Every vehicle on every major road will cough up tolls. Unless the useless National Assembly members vote no on the proposal.

6

These hyenas will be coerced by the executive into submission.