KSA Currency
If you got a job offer to Saudi Arabia, or you're planning to visit this wonderful country, find out in this article all about KSA currency, exchanging money, sending and receiving money, and taxes.
Saudi Arabia Currency
Saudi Arabia’s national currency is the Saudi riyal (ر.س SAR), which is subdivided into 100 halala. Saudi Arabia banknotes are the following:
- five riyals
- ten riyals
- 50 riyals
- 100 riyals
- 500 riyals
Whole coins are:
- One riyal
- Two riyals
- 50 halala
- 25 halala
- 10 halala
- 5 halala
- 1 halala
Exchange Money in Saudi Arabia
Currency exchange is easy in Saudi Arabia, so if you are a visitor in Saudi Arabia, you can exchange money through the following options:
- All Banks
- Exchange bureaus at airports, shopping centers, and many other locations throughout the country
- Credit cards, such as Visa, MasterCard, and American Express
- ATM's
Send and Receive Money
You can send or receive money in Saudi Arabia in several ways. Either by transferring funds online or through a bank that offers fast money transfer services. Note that Sending and receiving money in Saudi Arabia has to be subjected to the rules and regulations of the Saudi Arabian Monetary Authority (SAMA).
Taxes in Saudi Arabia
Saudi Arabia imposes an indirect tax of 15% (VAT) on all goods and services purchased and sold by enterprises, and there are some exceptions.
(Cover Copyright: visitsaudi.com)
This article was previously published on saudimoments.To see the original article, click here