The Impact of Zero-Rated Supplies on Financial Services in the KSA – What It Means and Where It Ends

The purpose of this article is to analyze the recent developments regarding the zero-rated supply of services, particularly in the financial services sector, to a non-resident customer in the Kingdome of Saudi Arabia (KSA) in accordance with article 33 of the VAT Implementing Regulations, and the gap between the interpretation of the tax law and the intended policy behind these developments.