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VAT claim registration opens for real estate supplies
The General Authority for Zakat, Tax, and Customs in Saudi Arabia has begun accepting claims for the recovery of Value Added Tax (VAT) on real estate supplies carried out by individuals during the period from January 1, 2018, until the enactment of the Real Estate Transactions Tax on October 4, 2020. For a claim to be valid, the supply must have been made by an individual who does not regularly engage in real estate activity to generate income. Additionally, the person must have accounted for the VAT but not deducted it from real estate inputs. Applications can be submitted through the "Hiyad" portal within 30 days of the publication of the procedures, provided all conditions are met. It should be noted that individuals whose supplies exceeded the mandatory registration threshold within 12 months are not eligible to apply.
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