Saudi Arabia’s Ministry of Housing issued 31,170 value-added tax (VAT) exemption certificates to first-time homebuyers from the program launch until the end of February 2019.
The ministry issued 19,470 exemption certificates to beneficiaries, the ministry said in a statement.
It was followed by Real Estate Development Fund (REDF) and other issuing entities with 5,902 and 5,792 certificates, respectively.
In January 2018, King Salman issued a royal decree stating that the Kingdom will bear the burden of VAT in some situations, including the first purchase of a house that is valued at up to SAR 850,000, Argaam reported.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}