Saudi CMA says no taxes on transactions, trading fees

03/12/2017 Argaam

 

Saudi Arabia’s Capital Market Authority (CMA) said value-added tax (VAT) will not be imposed on the value of trading transactions, or the CMA’s share of trading fees.

 

Taxes imposed on trading commissions of authorized brokerage companies (authorized persons) or the Saudi Stock Exchange Company (Tadawul) are set by the General Authority of Zakat and Tax (GAZT), the market regulator said on its official Twitter account, in response to a query.

 

Saudi Arabia recently specified financial services and products to be exempt from VAT, including interest on loans, lending fees charged with an implicit margin, such as loans and credit cards, mortgages, financial leasing, transactions involving money and securities, as well as current, deposit and savings accounts.

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