General Authority for Zakat and Income gears up on mutual agreements with ministries to enforce VAT

Updated 19 November 2017
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General Authority for Zakat and Income gears up on mutual agreements with ministries to enforce VAT

JEDDAH: The General Authority for Zakat and Income (GAZI) is geared to sign a cooperation deal with the Ministry of Municipal and Rural Affairs following similar agreements with the Ministry of Labor and Social Development and the Customs Department in the context of its preparations to enforce the value added tax (VAT) on Jan. 1, 2018.

Meanwhile, the governor of GAZI, Suhail Abanami said the authority seeks to sign these deals to encourage government agencies to register and achieve the required preparedness before the launch of the VAT system, and provide all means of support and quality services in this regard.

Government agencies have many steps to undertake in preparation for the application of the VAT system and, therefore, GAZI exerts its best to support agencies and upgrade their efficiency, he said.

The GAZI governor urged qualified government establishments, whose annual revenues exceed SR1,000,000 ($266,649), to register for the VAT system before Dec. 20, 2017 through the website vat.gov.sa

For his part, the spokesman for the Ministry of Municipal and Rural Affairs, Hamad Al-Omar, lauded the efforts being exerted by the authority to ensure the application of the VAT system, adding that they were working smoothly with GAZI to serve the national interests.


Saudi defense partnerships signed at Paris Air Show

Updated 20 June 2019
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Saudi defense partnerships signed at Paris Air Show

PARIS: Saudi defense chiefs signed a number of strategic partnerships with major global companies while taking part in the prestigious Paris Air Show.
The pavilion of the Saudi Arabian Military Industries (SAMI) company received a succession of key aerospace-industry figures during the Kingdom’s first exhibition appearance at the world’s largest aviation event.
High-profile visitors welcomed by SAMI chief executive offer, Andreas Schwer, included chairman of the SAMI board of directors, Ahmad Al-Khatib, deputy chairman of the SAMI board of directors and chairman of the board of directors of the Local Content and Government Procurement Commission, Dr. Ghassan Al-Shibl, and president of the General Authority for Civil Aviation, Abdulhadi bin Ahmed Al-Mansouri.
The pavilion also received a senior delegation from the Saudi Presidency of State Security, along with the director general of Saudi Arabian Airlines, Saleh bin Nasser Al-Jasser.
During the second day of the air show, which runs until June 23 at Le Bourget airport in Paris, SAMI officials took part in meetings and signed strategic partnerships with global businesses involved in the four areas of the company’s work, namely air and ground systems, weapons, missiles and defense electronics.
At a signing ceremony in the SAMI pavilion, company chiefs also put pen to paper on a joint project agreement with US aerospace and defense company L3 Technologies for cooperation in the field of electro-optical and infra-red technology and special task systems inside Saudi Arabia. In February, the two sides signed a memorandum of understanding establishing the joint project.