Skip to main content
Perspective:
Perspective
26 Sep 2022

Trading and financing through commodities in the Kingdom of Saudi Arabia

Your strategic advisor for Indirect Tax matters

Download or view the pdf
4 MB PDF

There has been a recent upward trend in the commodities trading and financing market across the Gulf Cooperation Council (GCC) region, including the Kingdom of Saudi Arabia (KSA). As a result, businesses are now developing products and services to cater to the growing need. Some of these products are technology focused and have resulted in more complex and fast paced trading involving counter-parties that do not have a presence in the Kingdom.

This has resulted in a range of potential risk areas for commodity market participants including:

  • Value Added Tax (VAT) registration obligations for non-resident traders
  • Overseas VAT registration obligations for KSA traders/financial institutions
  • Input VAT recovery for financial institutions
  • VAT registration for a branch
  • Trading platforms

We have therefore created an article to highlight the potential risk areas for commodity market participants and our key Indirect Tax services offerings available to businesses operating in KSA. 

Did you find this useful?

Yes
No

Thanks for your feedback

Your feedback is important to us

To tell us what you think, please update your settings to accept analytics and performance cookies.

Need help updating cookies?

Get in touch

Michael Camburn

Partner | Tax | Indirect Tax Leader

Our thinking

Accumulated VAT credits | Deloitte Middle East | VAT alerts

As we approach five years since the implementation of Value Added Tax (VAT) in the United Arab Emirates (UAE), we have seen in practice that many taxpayers have accumulated VAT credits which remain unclaimed from the Federal Tax Authority (FTA).
Perspective

Trading and commodities in the United Arab Emirates

Deloitte has created a document to support businesses with identifying potential risk areas for commodity market participants in the UAE, and effective risk mitigation actions.
Perspective

Saudi Arabian Tax Amnesty deadline approaching | Deloitte Middle East

The deadline for submissions under the Saudi Arabian Tax Amnesty in the Kingdom of Saudi Arabia (KSA) is rapidly approaching, with the cut-off date set for 31 May 2023.
Perspective

Cabinet Resolution on tax residency issued | Deloitte Middle East | Int'l Tax alerts

The United Arab Emirates (UAE) has issued the Cabinet Resolution No. (85) of 2022 (Resolution), which sets out the criteria for determining the tax domicile of legal and natural persons in the UAE.
Perspective
Explore our thinking