Prices of Almarai Co.’s products will only rise by 5 percent on applying value-added tax (VAT) as of today, the firm said.

 

Any other increase in prices will not be from the company’s part, it added.

 

Saudi Arabia will apply a 5 percent VAT to some goods and services starting today, Jan. 1, 2018. The new tax applies to all goods sold by a taxable person, regardless of the production date.

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