From The Report: Saudi Arabia 2020
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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 and responses to frequently asked questions containing its interpretation or position on regulations. The GAZT generally takes a substance-over-form approach in dealing with tax matters. This chapter contains a viewpoint from Wadih AbouNasr, Head of Tax, KPMG KSA Levant Cluster.