United Trademark and Patent Services was founded in 1949 and has worked its way up to attain the position as one of the leading firms specializing in Intellectual Property Law in the Middle East, South Asia and Africa, where we maintain our own offices. The Firm specializes in Intellectual Property filings, prosecution and litigation, licensing, distributorship agreements, franchising, transfer of technology, anti-counterfeiting and litigation. We take pride in having more than 200 of the Fortune 500 companies on our firm’s portfolio.
Saudi Arabia declared that the VAT rate will be increased from
5% to 15%, which will be effective as of July 1, 2020.
Due to the pandemic which has affected the global economy,
several measures have been taken and the tripling of the VAT rate
has been cited as one of these measures.
Through the increase, it is intended to route the fiscal
imbalance caused by a decrease in consumer and commercial
spending.
Should you or one of your team members need further information
on this, please contact us at SaudiArabia@UnitedTm.com.
Originally published 21 June, 2020.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
