Saudi Arabia Publishes Circular on VAT for Real Estate Transferred as Part of a Going Concern

The Saudi General Authority of Zakat and Tax (GAZT) published a tax circular on VAT for Real Estate Transferred as Part of a Going Concern.

Subject to certain conditions, the transfer of a package of assets that form an entire business or economic activity that is transferred as a going concern is not subject to VAT. In this respect, the tax circular considers the application of these rules to business transfers that include real estate, and the circumstances in which these can be transfer…