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Saudi Arabia announces VAT refund for tourists

RIYADH: Saudi Arabia has announced that tourists will now be eligible for a refund of the 15% Value Added Tax (VAT) paid on goods...

Chef dies after falling into vat of boiling chicken soup

In a tragic incident, a chef died after he fell into a vat of soup while preparing food at a wedding banquet, suffering severe...

Oman charges flat 5pc VAT on range of services, items starting today

Other economies to have done so are the UAE, Saudi Arabia – which last year raised its VAT rate to 15 pc from 5 pc – and Bahrain

Oman to implement 5 percent VAT from next month

Oman will join the league of 160 countries that apply value-added tax around the world.

Oman to bring in five-percent VAT

Oman on Monday announced the introduction of five-percent VAT on goods and services, to offset a slump in oil prices and an economic downturn

Tax cut approved by ECC on sugar import: Hammad Azhar

Hammad Azhar said that the decision will facilitate private sector for sugar import besides bringing improvements in the country's sugar reserves and availability in markets.

IMF did not recommend Saudi Arabia VAT tripling

Saudi Arabia tripled VAT this month to 15% as it seeks to bolster state finances badly hurt by a drop in oil prices

Carmakers announce to lower prices

BMW said it would reduce prices for both domestically produced and imported models, including the locally-made BMW 3 series and BMW 5 series

Saudi, UAE introduce VAT in first for Gulf

DUBAI: Saudi Arabia and the United Arab Emirates introduced value-added tax from Monday, a first for the Gulf which has long prided itself on...

ECC approves export of additional 0.3m tonnes of sugar

ISLAMABAD: Economic Coordination Committee of the federal cabinet on Tuesday approved the export of additional 0.3 million metric tonnes (MMT) of sugar. The meeting chaired...

Tax-free days ending for Saudis after oil slump

RIYADH: Tax-free living will soon be a thing of the past for Saudis after cabinet on Monday approved an IMF-backed value-added tax to be...

IMF announces $1.5bn loan for Sri Lanka

COLOMBO: The IMF has agreed a $1.5 billion loan for Sri Lanka in support of economic reforms aimed at reversing a two-decade decline in tax revenue and reviving growth, it said Friday.

Customs officials seize £900,000 from Pakistani British businessman

GLASGOW: British Customs officials seized £900,000 in a series of raids on a wealthy Pakistani-origin businessman’s home and shops.
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