Saudi Arabia approves amendments to Income Tax Bylaws and Zakat Regulations
|Tax Alerts, Information Reporting, Legis ...|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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