15/06/2020
Dear Valued Customers,
Kindly note that the Kingdom of Saudi Arabia has announced that the Value Added Tax (VAT) shall be increased from 5% (current rate) to 15% (new rate) effective July 1st, 2020.
Accordingly, Bright Information Systems - BIS will apply the new VAT rate of 15% on all the supply of goods and / or services starting from July 1st, 2020.
The new VAT rate of 15% will also apply on all the agreed prices / rates, and this will apply on all the orders placed / advances received before July 1st, 2020, for which supply of goods or services will be delivered on or after July 1st, 2020.
In the light of the above change in the legislation and the guidance issued by GAZT, we recommend that you make the necessary changes to your systems, pricing, documentation, operations and business processes in order to be ready to comply with and adapt to the new VAT rate.
You might refer to all the required details on the GAZT portal
https://gazt.gov.sa/ar/HelpCenter/guidelines/Pages/default.aspx
We remain at your disposal should you have any questions or require any further clarifications.