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The General Authority of Zakat, Tax, and Customs (ZATCA) ( Arabic: هيئة الزكاة والضريبة والجمارك) is a government agency under the Ministry of Finance in Saudi Arabia that is responsible for the assessment and collection of taxes and zakat, a form of obligatory almsgiving in Islam. [ 1][ 2] ZATCA was established on 14 ...
Map of the world showing national-level sales tax / VAT rates as of October 2019. Additional local taxes may apply. [citation needed]A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
e. A value-added tax ( VAT or goods and services tax ( GST ), general consumption tax (GCT) ), is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the consumer who ultimately bears the burden of ...
The economy of Saudi Arabia is the second-largest in the Middle East and the seventeenth-largest in the world. [ 6] The Saudi economy is highly reliant on its petroleum sector. Oil accounts on average in recent years for approximately 40% of Saudi GDP and 75% of fiscal revenue, with substantial fluctuations depending on oil prices each year.
July 22, 2024 at 10:13 PM. ZURICH (Reuters) -Computer mouse maker Logitech International raised its full-year sales and profit outlook on Tuesday, encouraged by strong quarterly growth. The Swiss ...
In a now-viral video, Kayla Menoscal, 20, films herself smiling as she walks to meet her father, Dave, and his girlfriend, Maria. “Strategically wearing my dead mom’s perfume to visit my dad ...
The Citizen's Account Program in Saudi Arabia is a cash transfer program that started in December 2017. The program is adopted and implemented by The Ministry of Labor and Social Development. [ 1] Through the programme, citizens in Saudi Arabia get monthly payments from the state. Saudi Arabia is doing many reforms to reduce the country's ...
Saudi Arabia will triple its value added tax and suspend a cost of living allowance for state employees. The Kingdom's Finance Minister made the announcement Monday (May 11), as authorities tried ...