Saudi Arabia Ministry of Finance issues Zakat Collection Rules for Investment Funds

29 December 2022|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Asset Management, Banking & Capital Markets|Saudi Arabia

The Zakat Collection Rules for Investment Funds (Fund Zakat Rules) will be effective from 1 January 2023.
The Fund Zakat Rules were issued to clarify the zakat calculation mechanism for the Capital Market Authority’s (CMA) approved investment funds (or real estate investment funds) and their investors.
Approved investment funds (Funds) in Saudi Arabia should register and file information declarations as per the Fund Zakat Rules.

Executive summary

On 23 December 2022, Saudi Arabia’s Ministry of Finan…

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