The Zakat, Tax, and Customs Authority confirmed that the amendments to the executive regulations for the Real Estate Transactions Tax as of yesterday, Friday, 17 Rajab 1443 AH, corresponding to February 18, 2022 AD.

The Authority stated that the most notable aspect of the amendment decision is the adjustment of the degrees of kinship covered by the tax exemption in cases of notarized gifts, extending the exemption to the third degree of kinship instead of the second, provided that the donee does not transfer ownership of the property for a period of three years to a person who would not be eligible for the tax exemption if the property were gifted to them directly by the original donor.

The amendment also addresses the tax payment deadline for transactions conducted under off-plan sales projects, in addition to several other amendments.