VAT Announcement
VAT Announcement

As you must be aware, the Value Added Tax (“VAT”) Law {as per Royal Decree No. (M / 113) dated 2/11/1438 H} has been issued together with Implementing Regulations by The General Authority of Zakat and Tax (“GAZT”), applicable from 1 January 2018 (“Effective Date”). Consequently, VAT of 5% will be charged on the following Fees and Charges that are mentioned in Annex “A” of our Cardmember Agreement from the Effective Date:

  1. Administrative Fee
  2. Annual Fee
  3. Fixed Monthly Service Fee
  4. Supplementary Card Fee
  5. Cash Withdrawal Fee
  6. Late Payment Fee
  7. Collection Fee
  8. Foreign Exchange Conversion Fee
  9. Cheque Returned Fee
  10. Statement Request Fee (more than three months)
  11. Refund of Credit Balance Fee
  12. Direct Debit Rejection Fee
  13. Dispute Handling Fee (for invalid disputes only)
  14. Overseas Payment Fee
  15. Card Replacement Fee
  16. Membership Rewards Program Fee

American Express Saudi Arabia is required to charge a one-time additional VAT to all current Cardmembers who were billed their Card annual fee between the period of 30 May 2017 and 31 December 2017. This additional VAT billed shall be on a prorated basis and cover the period between 1 January 2018 till the anniversary date of their Card in 2018.

In addition, the following new fees will also be levied by us from January 1, 2018:

  • A Replacement Card fee of SAR 105 or USD 28.35 ("inclusive of 5% VAT") will be levied for all Card replacement requests including requests made because of lost or stolen Cards.

You may terminate this Agreement (“without incurring additional fees related to revised Agreement”) within 14 calendar days after the receipt of the notice by advising us through authenticated communications. You will continue to be liable for amounts that You owe us until We receive Your full payment For more information and the complete Terms & Conditions, please click here

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