VAT News

Foreign Businesses No Longer Require A Local Fiscal Representative In Saudi Arabia

The Kingdom of Saudi Arabia have amended their VAT laws by removing the requirement for foreign VAT-registered businesses to appoint a local fiscal representative.

VAT was first introduced in to the region from January 2018, and for the past year and a half non-resident businesses were required to appoint a dedicated local VAT agent for registration, filings and VAT payments in order to smooth the process of VAT implementation.

In effect as of 18th July 2019, foreign tax payers without a fiscal representative will still have to appoint a local accountant for record-keeping, however they will now be able to liaise with the tax authorities directly through the bespoke General Authority of Zakat & Tax (GAZT) portal.

Foreign tax payers without a fiscal representative will also be required to make a cash deposit (or bank guarantee) with GAZT to cover any future VAT liabilities.

Related articles

UAE Introduce Electronic System for New Excise Tax Reporting

The Federal Tax Authority has unveiled a new electronic system designed to aid the registering of excise goods in the UAE.

Read more
10% of UK Businesses Miss First MTD Deadline

HMRC figures show one in ten UK firms filed VAT non-compliantly after the first deadline.

Read more
Croatia Announce Reduction to Standard VAT Rate

Croatian Finance Minister, Zdravko Maric, announces plans to reduce standard VAT rate to boost national tourism, hospitality and food & drink industries.

Read more