Saudi minister says citizens redeem 15% VAT spread on selling homes

17/10/2020 Argaam

Minister of Housing Majed Al Hogail said citizens can redeem the 15% value-added tax (VAT) spread when selling homes.

 

In an interview with Al Arabiya TV, Al-Hogail said the General Authority for Zakat and Tax (GAZT) is enacting some regulations to protect all parties.

 

King Salman earlier issued a royal decree, exempting real estate supplies from the VAT, once the provisions of this decree come into effect. The Kingdom will cover a real estate transaction tax of SAR 1 million maximum from the first-home purchase price, according to the data compiled by Argaam.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.