What is VAT?Value Added Tax (VAT) is a consumption tax applied at each stage of the supply chain. It is an indirect tax set at a standard rate of 15% on the supply and importation of goods and services, subject to specific exceptions.// SIB VAT CertificateAccess and download The Saudi Investment Bank’s official VAT certificate for record-keeping and compliance purposes. Download Certificate Terms & Conditions: It is understood and agreed between the Parties that any amounts due under this (Agreement/contract/service/product/terms and conditions) are exclusive of any Value Added Tax (VAT). Hence, VAT shall be added at the current applicable rate as amended from time to time, as per the VAT Rules and Regulations effective the 1st of July 2020. Frequently Asked Questions Why did the government decide to implement VAT? This reform will allow the government to diversify its sources of revenue, ensure financial sustainability and increase its revenues in the future. Which government entity is responsible for VAT? The government entity responsible for Value Added Tax (VAT) is the General Authority of Zakat and Tax (GAZT), now known as the Zakat, Tax and Customs Authority (ZATCA), which oversees VAT administration in the Kingdom. When does VAT apply and what is the current rate? VAT is applied at a standard rate of 15% on qualified goods and services in Saudi Arabia. This rate has been in effect since 1 July 2020. We’re Always Within Reach Stay connected to your banking, through our customer care team, digital channels, and branches everywhere. Customer Care Submit inquiries, raise complaints, and access support anytime. Branches & ATMs Easily locate branches and ATMs wherever you are. E-Banking Services Bank smarter and faster with our secure digital platforms.