Saudi Arabia Announces to Increase VAT to 15% Starting from July 01, 2020

Every day the situation of the Coronavirus becomes worst. Another hour, another minute Coronavirus (Covid-19) has become the biggest headline with rapidly changing economic, social, and mental challenges around the globe. With countries like china known as 3rd superpower is feeling helpless and trying its best to combat the deadly disease, other countries believe in taking the necessary precautionary steps to avoid the incidence of the lethal virus in the country.

In order to mitigate the impact of reducing oil prices and also Covid-19 impact, Saudi Arabia has announced to increase VAT from 5% to 15% starting from July 01, 2020.

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