Saudi Arabia Tax Agency Issues VAT Guide on Insurance, Reinsurance Companies in English

The Saudi General Authority of Zakat and Tax June 14 issued a VAT guide on insurance and reinsurance companies in English. Topics covered include: 1) the application of a 15 percent VAT rate on insurance and reinsurance contracts and premiums; 2) a VAT exemption for life insurance contracts; 3) VAT deduction rules; 4) insurance claim procedures and VAT treatment; and 5) a list of insurance and reinsurance activities. [Saudi Arabia, General Authority of Zakat and Tax, 06/14/21]

Reference:
View VAT Guide in English. View Index.