Saudi housing ministry issues VAT exemptions for new homeowners

16/06/2019 Argaam

 

The Saudi Ministry of Housing has issued 52,220 value-added tax (VAT) exemptions for first-time homebuyers.

 

The certificates were valid until the end of May 2019.

 

Beneficiaries from the Real Estate Development Fund (REDF) and other entities received 8,181 and 11,170 certificates, respectively.

 

King Salman in January 2018 issued a royal decree stating that the Kingdom will bear the costs of VAT in some situations, including the first purchase of any homes valued up to SAR 850,000, Argaam reported.

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