10 Dec 2017
In line with General Authority of Zakat and Tax (GAZT) announcement on Value Added Tax (VAT) Implementation effective 1st of January 2018 at the rate of 5%, SEDCO Capital would like to announce to customers that VAT will be added to all applicable fees of services and products unless the services or product delivered is exempt from VAT or zero rated.
We would like to announce to Client that our system & documents will be updated in accordance with the VAT Law & Regulations. For details information about VAT application, please visit:
Our Terms and Conditions
It is understood and agreed between the Parties that any amounts due under this (Agreement/contract/service/product/terms and conditions) are exclusive of any Value Added Tax (VAT). Hence VAT shall be added at the current applicable rate as amended from time to time, as per the VAT Rules and Regulations effective the 1st of January 2018”.
The Value added Tax (VAT) is an indirect tax that applies to goods and services within the Kingdom of Saudi Arabia except for those goods and services which have been explicitly exempted from such tax or are zero rated.
This reform will allow the government to diversify its sources of revenue, ensure financial sustainability and increase its revenues in the future.
The General Authority of Zakat and Tax (GAZT)
VAT will be introduced in Saudi Arabia on January 1, 2018, with a standard rate of 5% applied to qualified goods and services.
VAT, as a General Consumption Tax (GCT), will be imposed on many transactions related to goods and services within the Kingdom, if such product or service has not been explicitly exempted or zero rated from the tax.
VAT will be applied to some but not all of the SEDCO Capital’s products and services.