The Saudi General Authority of Zakat and Tax Oct. 9 issued guide on implementing VAT on real estate and its related operations. Topics covered include: 1) the implementation of the 15 percent VAT exemption on sales, transfers, rent, and leases related to real estate; 2) an explanation of the new 5 percent real estate disposal tax; 3) a list of properties and operations exempt from VAT; 4) the implementation and qualifications for first home tax benefits; and 5) filing requirements and procedures. [Saudi Arabia, General Authority of Zakat and Tax, 10/09/20]
Reference:
View Guide in Arabic. View Announcement. ...
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