RIYADH, 10 Dec 2017:
Saudi Arabia will exempt certain medicines and types of medical equipment from the 5% value-added tax (GST) it plans to impose in January, according to a statement carried by state news agency SPA yesterday.
All other private healthcare services will be taxed at the standard rate, the statement said – citing directives issued by the General Authority of Zakat and Tax, the Ministry of Health and the General Authority for Food and Drug Affairs.
Saudi Arabia is imposing the GST in coordination with other governments in the Gulf Cooperation Council as they seek new sources of revenue in a bid to close budget deficits caused by low oil prices.
– Reuters