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Zakat, tax and Customs Authority​

To assess the impact of the corporate tax and Zakat system on your business in the kingdom of Saudi Arabia, contact us today to view the Zakat and corporate tax law and its executive decisions, and supporting information
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Overview

Provide important insights for companies in this complex financial field, and provide companies

A comprehensive and understandable overview of the tax landscape in Saudi Arabia, including Zakat tax and corporate income tax

What is Zakat

  • Zakat is a mandatory charity for eligible entities in Saudi Arabia.
  • It is calculated at 2.5% of the company’s net eligible assets.
  • Eligibility is determined by factors such as ownership structure, capital and profitability.

What is corporate tax

  • Saudi Arabia introduced a corporate income tax in 2017, initially at 50% and later reduced to 20% in 2020.
  • Taxable income includes income from domestic and international sources.
  • Small and medium-sized companies with annual revenues of less than SAR 5 million enjoy a reduced interest rate ranging from 0-20%

Account and deposit:

  • Zakat is calculated annually based on the audited financial statements by a certified Zakat auditor.
  • Corporate tax returns are submitted annually to the General Authority for Zakat and income (GAZT).

Zakat and tax exemptions:

  • Some entities, such as government entities and entities wholly owned by the government, are exempt from zakat.
  • Tax exemptions apply to income derived from foreign investments and qualified income from real estate activities.

Who should I pay zakaah to

  • Saudi individual establishments
  • Shares of Saudi companies
  • Shares of non-Saudi individuals other than founding partners in publicly traded companies.

Why are we

At Tarik Alamal Alalmia we are committed to providing support and assistance to companies in the kingdom of Saudi Arabia to understand the taxation system, specifically whether it is a corporate Zakat claim or corporate income tax (CIT). We are aware of the complexity of the tax system, we strive to simplify it and make it clearer and easier for companies. Our dedicated team of professionals specializes in dealing with administrative transactions in various government ministries, public institutions and private sector companies, with the aim of facilitating compliance and ensuring the safety of operations.

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