The Government has perfectly defined startups as “a company which would have equity funding of at least 20% by incubation, angel or private equity fund, an accelerator or angel network registered with SEBI endorsing the innovative nature of the business.”Read More
VAT is implemented in the Kingdom of Saudi Arabia with effect from 1st of Jan 2018. Even the first monthly return was due on 28th of Feb 2018. This being a transactional tax change, it has impacted the way business was done apart from the cash flow and P & L to a great extent. This article lists down the ongoing clarifications, press releases and changes post VAT implementation.