I. Introduction Foreign investors seeking to expand their activities and business into the Kingdom of Saudi Arabia (“KSA”) tend to focus on studying the market and the investment opportunities. However, the regulatory requirements are considered a major aspect when investing in the KSA and should be considered as well. A company willing to enter the […]
Foreign investors and nominee arrangements in Saudi Arabia Read More »
Introduction The tax amnesty in Saudi Arabia is set to expire on 30 June 2024. The tax amnesty is a remarkable initiative from the Saudi Government, under which taxpayers can regularise their taxes with the Zakat, Tax and Customs Authority (“ZATCA”) and benefit from the cancellation of the associated tax penalties. With only 40 days
Only 40 days left of tax amnesty in Saudi Arabia Read More »
An overview of the amendments to the Zakat Collection Regulations for the year 1445 AH The legislative developments regarding the provisions for collecting zakat follow an accelerated pace, in a consistent manner with the changes in the other laws in the Kingdom of Saudi Arabia, such as the companies and investment laws, accounting standards, tax
An overview of the amendments to Zakat in Saudi Arabia Read More »
Summary In late 2023, Saudi Arabia’s Zakat, Tax and Customs Authority (“ZATCA”) opened a public consultation to replace the existing Income Tax Law (“ITL”) by a new one. The proposal, which is currently under study, aims to update the ITL, to align it with the most relevant international tax practices and to promote business through
A closer look into Saudi Arabia’s proposal for a new Income Tax Law Read More »
1.Introduction On 16 February 2024, Saudi Arabia’s gazette published the Zakat, Tax and Customs Authority’s (“ZATCA”) much awaited tax rules for regional headquarters (“RHQ Tax Rules”). The RHQ Tax Rules are a great step and should, in conjunction with the other non-tax incentives already existing, incentivise multinational groups to set up their RHQ in Saudi
The RHQ Tax Rules in Saudi Arabia Read More »