Riyadh - Mubasher: Saudi Arabia's newly-adjusted value-added tax (VAT) will come into effect as of 1 July 2020, Saudi Customs announced through its Twitter page.

The new VAT, which was tripled to 15% from 5%, will be imposed on e-commerce transactions from outside the kingdom, including all imports and electronic sales and purchases.

The move is one of the fiscal measures taken by the Saudi government to mitigate the negative effects of the coronavirus (COVID-19) pandemic.