RIYADH: The Saudi authorities are planning to impose a new regulation concerning taxation on digital e-commerce transactions.
The General Authority for Zakat and Tax (GAZT) announced plans to levy 5 per cent in Value Added Tax (VAT) on digital transactions with e-commerce shops.
Saudi Arabia will become the first Gulf Cooperation Council (GCC) member state to implement to the 5 per cent VAT levy on January 1 2018.
A statement on VAT portal said that the 5 per cent tax would be levied on goods bought online from e-shops and shipped to Saudi Arabia.
