Important Announcement – Value Added Tax (VAT)
Dear Valued Clients,
Please be informed that, pursuant to the taxation regulations of the Kingdom of Saudi Arabia, starting from 01 January 2018 VAT amounts to 5% will be applied to all fees and commissions mentioned in the Terms and Conditions of all Investment Funds Managed by Alawwal Invest. Moreover, the client will be charged any value added tax applicable to commissions and fees mentioned in investment funds’ terms and conditions, as VAT is mandatory charged in addition to commissions and fees mentioned in investment funds’ terms and conditions. Furthermore, the terms and conditions of all funds will be updated with this regards. Furthermore, VAT is an indirect tax imposed on all goods and services, with some exceptions. This tax is a new addition to taxation system of the Kingdom, and will be applied starting from 01 January 2018. For more information about VAT, please visit the website www.vat.gov.sa/en