Introduction of value added tax (VAT) in the Kingdom of Saudi Arabia
Our Beloved Customer
Part of KaafMeem responsibility of keeping you updated in regard to the continuous changes in the market. We would like to inform you that KaafMeem brand registered with Value Added Tax (VAT) in the kingdom of Saudi Arabia starting 1st of January 2018.
In accordance with the final KSA VAT law and the related implementing regulations which have been issued, Mira Alzad wa Alkhair Ltd. Co. "KaafMeem" will charge VAT at the applicable rate on all products and services provided by "KaafMeem" to you in Saudi Arabia, effective from 1 January 2018. VAT will be charged in addition to the agreed contractual prices and rates and will be paid to the General Authority of Zakat & Tax (GAZT) in compliance with the Saudi Arabia VAT law and implementing regulations.
Mira Alzad wa Alkhair Ltd. Co. is registered for VAT with the GAZT as required under the VAT Laws and implementing regulations. Mira Alzad wa Alkhair Ltd. Co. VAT registration number is 310464536600003.
To download VAT certificate for Mira Alzad wa Alkhair Ltd. Co. please click here
Please note that this letter supersedes any contrary terms relating to VAT in the agreement entered into Mira Alzad wa Alkhair Ltd. Co., or in relation to the products or services provided by Mira Alzad wa Alkhair Ltd. Co. In case you have any queries, please reach us on firstname.lastname@example.org
For more information on VAT, you may visit the website of GAZT on:
What is VAT?
Value Added Tax (or VAT) is an indirect tax imposed on all goods and services that are bought and sold by businesses, with a few exceptions. VAT is applied in more than 160 countries around the world as a reliable source of revenue for state budgets.
What is the VAT Rate?
VAT will be introduced at a standard rate of 5%
When will it come into effect?
Saudi Arabia ratified the GCC VAT framework and committed to impose VAT with effect from January 1, 2018 (Rabi Al-Thani 14, 1439)
Who is going to pay VAT?
The consumer pays the VAT cost on purchased goods and services. Businesses pay the government the VAT collected from their customers’ purchases and refund the VAT they paid to their suppliers.