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Tax & Accounting

VAT in 2020: KSA  In partnership with Grant Thornton KSA

At the beginning of January 2018, the government of Saudi Arabia implemented a VAT tax rate of 5%. This was based on the unified agreement of the Gulf Cooperation Council, which was signed in 2016. However, at the beginning of July 2020, after approximately 30 months, Saudi Arabia increased the tax rate to 15%.  Thomson Reuters sits with Muath Al Solmi, Partner in Grant Thornton KSA, to discuss the latest market updates and how businesses can navigate through these changes.

في بداية يناير ٢٠١٨ ، طبقت المملكة العربية السعودية ضريبة القيمة المضافة بنسبة ٥٪. ذلك بناءً على الاتفاقية الموحدة لدول مجلس التعاون الخليجي ، والتي تم توقيعها في عام ٢٠١٦. لكن في بداية يوليو ٢٠٢٠ ، وبعد حوالي ٣٠ شهرًا ، رفعت المملكة العربية السعودية معدل الضريبة إلى ١٥٪. هلال الرفاعي من ثومسون رويترز يتحدث مع السيد معاذ السلمي، شريك في جرانت ثورنتون، عن آخر تحديثات وكيف يمكن للشركات التعامل مع هذه التغييرات



About the interviewee

Muath Al Solmi


Grant Thornton - Saudi Arabia

Muath is a leading Partner at the Grant Thornton Saudi Arabia, and has experience in Assurance, Audit and Advisory. He has vast experience working within the public and private sectors and has held many leadership positions within the financial sector.

Muath actively represents the firm at many local and international events and is a key speaker on Accounting and Finance related topics.

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