Cpa Club

Connecting Finance Professionals


Board of Director fee and VAT implication

Posted By Admin

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

  • 10 months ago
  • |
  • VAT
  • |
  • 589
  • |


Reimburse Employees for actual expenditures incurred for business

Posted By Admin

In cases where it can be clearly evidenced that the Employee has received a supply of goods or services as a required part of his employment duties, and for the purposes of input tax deduction or refund, GAZT will generally accept that the Employee i

  • 10 months ago
  • |
  • VAT
  • |
  • 431
  • |


Exports from the Kingdom are zero-rated under VAT

Posted By Admin

The General Authority of Zakat & Tax (GAZT) clarified that exports from Saudi Arabia are zero-rated under the VAT Law and Implementing Regulations. As such, in-Kingdom enterprises which export goods and services are entitled to deduct the VAT-eligib

  • one year ago
  • |
  • VAT
  • |
  • 661
  • |


Tax Invoice- Saudi VAT

Posted By Admin

The Zakat and Income Tax Authority clarified the VAT invoice form to be adopted with the introduction of the tax on 1 January 2018, with the aim of improving the levels of tax compliance. The Authority indicated that two forms of invoices will be ap

  • one year ago
  • |
  • VAT
  • |
  • 3.6K
  • |


Capital Assets - VAT Treatment

Posted By Admin

As per the VAT, the treatment of transaction of capital goods is different from other transactions. In this article we are covering input tax on a purchase of capital goods, adjustment of input tax, change in the way taxable person uses the asset. W

  • one year ago
  • |
  • VAT
  • |
  • 2.3K
  • |


Tax Period - Saudi VAT

Posted By Admin

A “tax period” is an accounting period for reporting supply of good and services and purchase of goods and services to the government. Tax due or refund claim related to the tax period will be ascertained and settled. The Regulations shall determine

  • one year ago
  • |
  • VAT
  • |
  • 789
  • |


Transport Sector - Saudi VAT

Posted By Admin

The General Authority of Zakat and Tax (GAZT) has confirmed that the international transport of passengers and goods is zero-rated according to the Unified VAT Agreement for the Cooperation Council for the Arab States of the Gulf and the VAT Implemen

  • one year ago
  • |
  • VAT
  • |
  • 835
  • |


Place of Supply - VAT

Posted By Admin

Goods General rule: The location of goods when the supply has taken place Special rule for cross-border supplies Services General rule: Place of supply is where the supplier has place of residence Special rule for cross-border services, Electr

  • one year ago
  • |
  • VAT
  • |
  • 954
  • |