Saudi Arabia announces amendments to Real Estate Transaction Tax Implementing Regulations

09 May 2024|Tax Alerts, Legislation & Policy, National/Federal Taxation, Real Estate|Saudi Arabia

Saudi Arabia has amended the Real Estate Transaction Tax Implementing Regulations.
The amendments broaden the exemptions for certain real estate transactions.
The amendments encourage public participation in the capital markets by creating incentives for offering shares and fund units for public subscription.

Executive summary

On 3 May 2024, Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) announced the approval of amendments to the Real Estate Transaction Tax (RETT) Implementing Regula…

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