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KSA: Amendments to the implementing regulations of the Tax Law

A number of amendments were made to certain articles of the Saudi Arabian (KSA) Income Tax law (“Tax Law”) pursuant to Royal Decree No (M/131) on 29/12/1438 AH (September 20, 2017). Following the publication of this Royal Decree, the Minister of Finance has now issued Ministerial Resolution (“MR”) No. 1727 dated 25/5/1439 AH (February 11, 2018) which provides alignment of the KSA Tax Law with the Tax By-laws or Implementing Regulations. The latest MR is one of a number of important legislative changes made to key fiscal laws in KSA, all of which need to be considered carefully given the recent pro-active approach of the tax authorities with regard to tax compliance in KSA.

KSA Ministry of Finance circular regarding VAT on government contracts March 2018

On 22 March 2018, the Ministry of Finance in Saudi Arabia issued a circular that clarifies the treatment of VAT on contracts concluded between VAT registered suppliers and government bodies before, on, or after 1 January 2018. The circular emphasises that the VAT treatment depends on the terms of the signed contract/proposal and provides guidance for government bodies and public institutions on how to account for VAT under the KSA budget requirement.

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