Triple VAT

Saudi Triples VAT To 15% After Twin Shock Of Covid-19

News Rangers5 years ago5 years ago06 mins

LAGOS JULY 1ST (NEWSRANGERS) – Saudis braced Wednesday for a tripling in value added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom’s worst economic decline in decades. Retailers in the country reported a sharp uptick in sales this week of everything from gold and…

New Austerity Measures: Saudi To Triple VAT, Suspends Monthly Payment To Citizens

News Rangers5 years ago5 years ago03 mins

LAGOS MAY 12TH (NEWSRANGERS)-Saudi Arabia’s finance minister on Monday said the kingdom will triple its Value Added Tax and halt monthly handout payments to citizens in new austerity measures amid record low oil prices and a coronavirus-led economic slump. The measures, which could stir public resentment with the cost of living rising, come as the…

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Saudi Triples VAT To 15% After Twin Shock Of Covid-19

New Austerity Measures: Saudi To Triple VAT, Suspends Monthly Payment To Citizens