Saudi Arabia
Taxation in Saudi Arabia
Recent forum posts
-
Direct Access To A Safe & Secure BG/SBLC Platform
Dear Partner/Associate,We are accredited mandate to a renowned provider for bank instruments; BGs | SBLCs | LCs | DLCs ET AL for lease and sale, Issuance by HSBC Bank Oman, Barclays Bank London , Deutsche Bank, BNP Paribas, & AAA Rated Banks in Europe, Middle East or USA.Our BG/SBLC Financing can help you get your project funded, LOAN financing by providing you with yearly renewable leased
Total Posts: 1 Last post by cynassets
-
Business and Real Estate Funding Via Bank Guarantee
Dear Partner & Associate,I am the mandate of a genuine and efficient provider for Fresh Cut Bank Guarantee (BG’/SBLC/BD) For credit enhancement, collateral, or to place into trade and commitment to purchase or a standby loan.Whether you are new starting up, medium or large establishment that needs a financial solution to fund/get your project started or an established business looking for
Total Posts: 1 Last post by cynassets
Taxation in Saudi Arabia
Income Tax
Income tax is set at a flat rate of 20%.
Corporate Tax
The Council of Ministers in Saudi Arabia legislated a new income tax law, decreasing the tax rate on overseas investors from a maximum of 30% to a flat rate of 20%.The tax rate on companies engaged in the production of oil and other hydrocarbons productions will be 85%.
Zakat
Zakat is a religious capital tax assessed on Saudi and GCC nationals and on businesses entirely owned by those individuals. If companies or partnerships are owned by Saudi or GCC nationals and by other foreigners, zakat is assessed on the taxable income of the entity in proportion to the equity interest of Saudi and GCC nationals in the company. Complex rules apply to the calculation of zakat liabilities. Generally, zakat is levied at a rate of 2.5%.