There were 45 results found for Saudi Arabia and Taxation

There were 45 results found.

Viewpoint

Wadih AbouNasr, Head of Tax, KPMG KSA Levant Cluster: Viewpoint
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Viewpoint:Wadih AbouNasr Direct and indirect taxation have been used to increase non-oil revenues and provide services for citizens. Whether it is corporate, individual income, sales, excise or value-added tax (VAT) or custom duties, the main objective is typically to increase revenue and, in some instances, change the behaviour of citizens. Excise taxes on tobacco and sugary drinks are meant…

Overview

Overview of Saudi Arabia's tax regulations
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Saudi Arabia’s income tax rules are governed by the Income Tax Law (Tax Law), which came into force in 2004. The Tax Law is supplemented by implementing regulations (by-laws). Zakat is governed by the implementing regulations for zakat collection (zakat regulations). The Ministry of Finance issues ministerial resolutions concerning aspects of tax and zakat, and the General Authority of Zakat…

Chapter

The Report: Saudi Arabia 2020: Tax
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Saudi Arabia’s income tax rules are governed by the Income Tax Law, which came into force in 2004. The Tax Law is supplemented by implementing regulations. Zakat, for its part, is governed by the implementing regulations for zakat collection. The Ministry of Finance issues resolutions concerning aspects of tax and zakat, and the General Authority of Zakat and Tax (GAZT) regularly issues circulars…

Overview

Updated legislation guides zakat and taxpayers in navigating Saudi Arabia's regulatory framework
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Corporate income tax rules are governed by the Income Tax Law (Tax Law), which came into force in 2004. The Tax Law is supplemented by implementing regulations (by-laws). The Ministry of Finance issues ministerial resolutions concerning aspects of tax and zakat, a payment under Islamic law that is used for charitable or religious purposes. The General Authority of Zakat and Tax (GAZT) regularly issues…

Country Report

The Report: Saudi Arabia 2019
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Since its establishment in September 1932, the Kingdom has poured its considerable financial resources into a series of large-scale economic development, diversification and modernisation initiatives. Saudi Arabia has attracted international attention for the momentum of its socio-economic transformation, taking place under the auspices of the Vision 2030 development blueprint. Firming oil prices

Chapter

The Report: Saudi Arabia 2019: Tax
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Corporate income tax rules are governed by the Income Tax Law, which came into force in 2004. The Ministry of Finance issues ministerial resolutions concerning aspects of tax and zakat, a payment under Islamic law that is used for charitable or religious purposes. The General Authority of Zakat and Tax (GAZT) regularly issues circulars and responses to frequently asked questions containing its interpretation…

Viewpoint

Wadih AbouNasr, Head of Tax, KPMG KSA Levant Cluster : Interview
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Viewpoint :Wadih AbouNasr With the recent introduction of transfer pricing (TP) regulations, Saudi Arabia edges closer to the alignment with global taxation trends. As of February 15, 2019, the General Authority of Zakat and Tax (GAZT), issued the final approved TP By-laws. The by-laws are based on the OECD model and are an integral part of the base erosion and profit sharing initiative first…

Overview

An outline of taxes for individuals and businesses in Saudi Arabia
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Saudi Arabia is ranked 10th out of the G20 countries for ease of paying taxes, a notable achievement for a country with a GDP of over $650bn. With due care and commitment to compliance, businesses can enjoy the advantages of the Kingdom’s tax system. Although the current tax law was enacted in 2004, it is commonly referred to as the New Income Tax Law. And while the system is basic, it is not simple.…

Country Report

The Report: Saudi Arabia 2018
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Key initiatives include a privatisation programme which would see the divestment of a number of state-owned giants, such as the partial listing of Aramco, the creation of the world’s largest sovereign wealth fund and the increased participation of women in the job market. The Kingdom has played a key role too on the international stage in 2017, becoming the first country to host President Trump,

Chapter

The Report: Saudi Arabia 2018: Tax
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This chapter contains an overview of the tax framework in which local and foreign investors operate in Saudi Arabia including an explanation of the Value-added tax introduced on January 1, 2018, a summary of the parallel systems for zakat and corporate income tax, and a rundown of the taxation treaties in place to help promote foreign investment. This chapter contains a viewpoint from Riyadh Al Najjar,…

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There were 45 results found for Saudi Arabia and Taxation

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