The Saudi General Authority of Zakat and Tax (GAZT) has issued a release that clarifies the value added tax (VAT) zero-rating and exemptions for select goods and services as provided in the implementing regulations for Saudi Arabia's new VAT regime, which will be introduced on 1 January 2018.
Zero-rated goods and services include:
- The supply of certain medications and medical equipment specified by the Ministry of Health and Saudi Food and Drug Authority;
- The supply of gold, silver, and …