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The Saudi Arabia Government has approved the final Kingdom of Saudi Arabia Value-Added Tax Law and published the statute in the official gazette, Um Al Qura Edition 4681, on July 28. The Law will be effective from the beginning of the financial year following the date of publication of the Law in the official gazette. Accordingly, VAT will become effective in Saudi Arabia on January 1, 2018.
Report: Ismael Hajjar, Director, Private Client & International Tax Adviser, UAE
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