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Saudi Arabia approves amendments to Income Tax Bylaws and Zakat Regulations

|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation|Saudi Arabia
Saudi Arabia
  • Saudi Arabia has approved the amendments to the Income Tax Bylaws and Zakat Regulations.
  • Amendments to the Income Tax Bylaws relate primarily to interest charges on capital assets, employers' retirement fund contributions, appeals processes and withholding tax rates.
  • Under the amendment to the Zakat Regulations, Zakat guidelines and rulings are now binding on the Zakat, Tax and Customs Authority (ZATCA) subject to certain conditions.
  • Taxpayers and zakat payers should consider the amendments and com…

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