Saudi Arabia introduced Value Added Tax (VAT) at a rate of 5%, which was later increased to 15% in July 2020.
All businesses with annual taxable supplies exceeding SAR 375,000 are required to register for VAT with the Zakat, Tax and Customs Authority (ZATCA).
Voluntary registration is also allowed for businesses with taxable turnover above SAR 187,500.
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The company BMS Auditing has a Corporate tax system in the UAE, deals with all forms of services including registration, assessment, auditing, and consultancy. The Corporate tax system in the UAE achieves the world-class taxation practice focuses on developing country's economy, helping businesses to meet international standards, and preventing the illegal tax practices.
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