Cpa Club

Connecting Finance Professionals


Saudi VAT new tax rate 15% Implications and Transitional Provisions

Posted By cpa club

The Ministry of Finance, Saudi Arabia has decided to increase the standard rate of VAT from 5% to 15% with effect from 1 July 2020. This measure is intended to address the fiscal imbalance due to loss of oil and tax revenue and the cost incurred to f

  • 7 days ago
  • |
  • VAT
  • |
  • 48
  • |


Payment of Corporate Zakat in Installments

Posted By cpa club

Certain cases business cannot pay the lump sum amount Zakat at a time, mainly this is due to the bad collection or fund flow to the business. Such cases GAZT has provided the business to pay Zakat in instalments without incurring any additional cost.


Input Tax - What if the due consideration not paid to supplier

Posted By cpa club

If the customer failed to pay full or partial after a period of 12 months from the date of supply, the customer required to deduct the input tax credit already claimed for the consideration not paid. As the amount of the deductible Input Tax is dire

  • 3 months ago
  • |
  • VAT
  • |
  • 188
  • |


How many years after can deduct VAT input tax?

Posted By cpa club

The answer is five years  The Implementing Regulations allows a Taxable Person to deduct Input Tax in a tax period subsequent to that tax period including the date of supply, subject to a statutory limitation of five years following the year in whic

  • 3 months ago
  • |
  • VAT
  • |
  • 150
  • |


Can a Employer terminate employee on account of sickness?

Posted By cpa club

An employer cannot terminate an employee on account of employees sickness and he/she has unused sick leave balance. Article 82 of Saudi Labor law. An employer may not terminate the worker’s services on account of illness prior to availing him of


Saudi - How to check telephone numbers and data SIM registered with your ID

Posted By cpa club

With this government portal, you can find the number phone connection taken using your resident Id. The objective of this service is 'My numbers' service allows users to know details about all telephone numbers and data SIM registered with their ID

  • 3 months ago
  • |
  • Other
  • |
  • 267
  • |


Employee may leave his job without notice - Saudi Law

Posted By cpa club

An employee may leave his job without notice in any of the following cases.   If the employer fails to perform as per contractual obligation or statutory obligation. If the employer or his representative resorts to fraud with respect to the work


Board of Director fee and VAT implication

Posted By cpa club

Member of the Board of directors, not an employee of the business unless they are specifically appointed. Members of the board of directors who have not been appointed under contracts of employment and who receive fees in consideration of membership

  • one year ago
  • |
  • VAT
  • |
  • 947
  • |