Value Added Tax

Dear Emirates NBD Capital Customer,

As you may be aware, the Kingdom of Saudi Arabia (“KSA”) will implement Value Added Tax (“VAT”) with effect from 1st January 2018 (“effective date”). VAT will apply at the standard rate of 5% to most supplies of good and services.

KSA has already published its VAT law and implementing regulations. The VAT law and implementing regulations can be accessed here www.vat.gov.sa

 

Application to our services

From 1st January 2018, VAT will apply to all Emirates NBD Capital KSA products and services that are provided to you in KSA for an explicit fee or commission, with the exception of the services or products exempted according to the law or subject to zero percent VAT.

VAT is a consumption tax that should be borne by the customers and Emirates NBD Capital KSA is required by law to collect this tax on behalf of the General Authority of Zakat and Tax.

Your continued dealing with Emirates NBD Capital KSA is your acceptance of VAT inclusion to our existing terms and conditions, where such VAT is applicable to the products and services in question.

We appreciate your continuing loyalty and look forward to working together in the future. Please do not hesitate to contact us on 011-2993900, if you would like to have further information.

For and on behalf of

Emirates NBD Capital KSA – Saudi Arabia

Research Reports

 

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