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Foreign Businesses No Longer Require A Local Fiscal Representative In Saudi Arabia

Foreign Businesses No Longer Require A Local Fiscal Representative In Saudi Arabia

The Kingdom of Saudi Arabia have amended their VAT laws by removing the requirement for foreign VAT-registered businesses to appoint a local fiscal representative.

VAT was first introduced in to the region from January 2018, and for the past year and a half non-resident businesses were required to appoint a dedicated local VAT agent for registration, filings and VAT payments in order to smooth the process of VAT implementation.

In effect as of 18th July 2019, foreign tax payers without a fiscal representative will still have to appoint a local accountant for record-keeping, however they will now be able to liaise with the tax authorities directly through the bespoke General Authority of Zakat & Tax (GAZT) portal.

Foreign tax payers without a fiscal representative will also be required to make a cash deposit (or bank guarantee) with GAZT to cover any future VAT liabilities.

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