Executive summary
On 2 March 2020, Saudi Arabia’s General Authority of Zakat & Tax (GAZT) published draft Zakat Levy Regulations for public consultation.1 The draft regulations propose financial penalties for non-compliance with zakat obligations. The regulations are open for public consultation until 31 March 2020. The proposed regulations, if approved and published during 2020, will be effective from 1 January 2021.
Detailed discussion
The draft Zakat Levy Regulations propose the fo…