Saudi Arabia will launch a value-added tax (VAT) refund system for tourists next year as part of its efforts to attract more foreign visitors. The Saudi Zakat, Tax and Customs Authority will oversee the implementation of this system, which aims to simplify tax compliance, according to the Saudi news portal Sabq.
The kingdom aims to attract 127 million visitors by the end of 2025, with tourism revenue expected to reach SR346.6 billion. This growth is seen as a significant contribution to the national economy, increasing non-oil income and boosting demand for private sector institutions.
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