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Saudi Arabia Opens VAT Refund Applications for Real Estate
The General Secretariat of the Zakat, Tax, and Customs Committees in Saudi Arabia has begun accepting applications to register claims for the recovery of Value Added Tax (VAT) related to real estate supplies conducted by individuals between January 1, 2018, and October 4, 2020, as part of regulatory procedures. To qualify for a refund, the supply must have been made by a natural person who did not deduct input tax related to the property, and the VAT must have been paid without engaging in a repeated real estate activity aimed at generating income. Additionally, the number of real estate transactions within 12 months should not exceed the mandatory registration threshold. Individuals who have paid VAT can also submit claims for its recovery along with associated penalties, provided they meet all the conditions specified in the mechanisms.
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