GTL Summary:

Article 30 of the KSA Value Added Tax Law establishes the legal basis for a special taxation method concerning the supply of used goods. It authorises the implementation of a profit margin scheme, allowing a Taxable Person to calculate and impose Value Added Tax on the profit margin of the sale, rather than the full selling price. The Article stipulates that the specific terms, conditions, and procedural requirements necessary for applying this scheme will be determined and outlined in the Implementing Regulations. This provision delegates the authority to create detailed rules for this alternative VAT accounting method, ensuring clarity for businesses dealing in second-hand goods.