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Adel Daglas, Tax Advisor - Grant Thornton Saudi Arabia discusses the latest developments surrounding electronic invoices in the Kingdom of Saudi Arabia, with Thomson Reuters MENA

Tax Expert, Ganesh Nair of Grant Thornton Saudi Arabia shares an overview of the elements which Omani businesses may need to consider, following the lessons learnt during the implementation of VAT across Saudi Arabia.

The gulf region requires a sustainable tax structure which will enable a diversified revenue strategy. Whilst VAT has been introduced across KSA, UAE, Oman and Bahrain, the recent announcement of income tax across Oman may further evoke realigned strategies across the region. We share our insights on the current tax structure, comparing with similar emerging economies, whilst providing insights on the tax structures which could be adopted for future resilience.

The mid-market already had a reputation for agility but the COVID crisis has forced leaders to take an even closer look at how their operations can be more responsive. As they prepare for the future, businesses are taking stock of their existing operations and questioning whether they are fit for purpose.

Tax Alert: New 5 per cent tax on real estate transactions in Saudi Arabia.

The General Authority of Zakat and Tax GAZT announced the approval of its Board of Directors on the electronic invoicing regulation, which was published on Friday, the December,4 2020. This summarised alerts shares the overview of this regulation.

COVID-19 is continuing to challenge the business landscape like no other event before it. Many in the mid-market are now fully focused on building greater resilience into their operations, however, true resilience goes beyond short-term survival. Our series of insights can help businesses look at the external drivers and internal enablers that will underpin their strategy and programmes, whilst working in sync to boost performance.

Rethinking Resilience in Recovery

Doing business in Saudi Arabia guide

Cyber Security and the role of the Board

The transitional period for VAT increase across KSA

We provide an overview of direct and indirect tax updates across the GCC

Entities who are not resident and trade or provide services across Saudi Arabia are subject to withholding tax

Saudi tax measures during COVID. The kingdom have introduced austerity measures which will support business leaders and SMEs across the country.

The OECD’s latest proposals on taxing digital business pull back from the radical roadmap put forward in May to something much closer to the January policy note by proposing a modified residual profit split with benchmarking of routine profits.

Indirect taxation is not as easy as it seems, from pricing and reputational risks to the threat of systems overload and cash flow disruption. In this article we look at how to best manage the hidden complexities of indirect taxation.