Saudi Arabia
Taxation in Saudi Arabia
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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%.