Month: March 2019

“Housing” and “Trade“ launch “Building Platform” to provide more housing units for needy families

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Accreditation of the Saudi Housing Guarantee Company

Reading time: 2 MinutesMinister of Housing Majid Al-Hogail launched on Monday the “Binaa” platform to provide housing units for vulnerable families. Al-Haqeel emphasized that the launch of the “Binaa” platform comes as an additional option within a range of options to provide more housing units for this category. For his part, Minister of Trade and Investment Majid bin Abdullah Al-Qasabi expressed his happiness with the participation of the Ministry of Housing in the launch of the platform: With the initiative of ... Read more

General Authority for Zakat and Income: Zakat base for banks and finance companies 2.5%... and changes in the access method for calculating zakat

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Zakat & Income Tax - Zakat & Income Tax - Property Tax - Tax

Reading time: 2 MinutesThe General Authority for Zakat and Income revealed that the zakat base for banks and finance companies has not changed at 2.5%, but the method of reaching this base to calculate zakat has changed. Hamoud Al-Harbi, spokesperson for Zakat and Income, explained in a TV interview that the rules in the new regulation reach a very clear zakat base that takes into account the financing activities and sources of funds used in the assets of these ... Read more

With the participation of 300 international and local companies. Construction and Decoration Exhibition 2019 kicks off this evening in Jeddah

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Construction, Decoration and Furniture Exhibition

Reading time: 2 MinutesWith the participation of more than 300 international and local companies, the 28th edition of the Saudi Building and Decoration Exhibition 2019 will kick off this evening from March 18 to 21 at the Jeddah Center for Forums and Events. The exhibition coincides with the launch of three exhibitions: the fourth Saudi International Exhibition for Furniture and Decoration, the second Saudi Exhibition for Heating and Ventilation and the second Saudi Exhibition for Glass and Wood ... Read more

Dr. . Abdulaziz bin Saad Al-Dughaythir writes about waqf and its most important provisions - 5 - Waqf of real estate, mosques, shares and sukuk

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Waqf in real estate

Reading time: 3 MinutesWaqf is one of the important economic tributaries throughout Islamic history, even places of education, treatment and shelter for the elderly and orphans were derived from waqf, and this makes waqf of great importance, especially with the new vision of the Kingdom of Saudi Arabia in 2030, in which the focus is on non-oil tributaries. In this interview, Dr. Abdulaziz ... Read more

Ministry of Housing announces the delivery of 5600 free land plots in 5 regions and targets 50,000 plots this year

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Residential Land - Real Estate Finance

Reading time: 2 MinutesYesterday, the Residential Program announced the delivery of more than 5600 free residential plots within 9 schemes in 5 different regions in the Kingdom, while Housing Minister Majid Al-Hogail revealed that the ministry aims to provide 50,000 free residential lands this year within the “Residential” program, to be the first nucleus to build the first home and stability, adding that ... Read more

Ministry of Housing issues 31.17 thousand tax exemption certificates until the end of February 2019

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VAT Payment - Real Estate

Reading time: 2 MinutesThe Ministry of Housing revealed that the number of VAT exemption certificates issued since the launch of the program until the end of February 2019 amounted to 31.17 thousand tax exemption certificates. The number of certificates issued to the Ministry's beneficiaries amounted to 19.47 thousand certificates, while 5902 certificates were issued to Real Estate Development Fund beneficiaries, and 5792 certificates were issued to beneficiaries of ... Read more

Cabinet Approves Income Limit for Housing Subsidies

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Housing Subsidy - Estate Liquidation

Reading time: 2 MinutesBased on a proposal by the Minister of Finance. The Council of Ministers decided to approve the income limit for a natural person who is eligible for housing subsidies, according to the Official Gazette. The decision stipulates that the income limit of a Saudi natural person who is eligible for housing subsidies, referred to in the definition of "eligible for subsidies" in Article 1 of the Real Estate Finance Law, shall be ... Read more

Housed... 6207 families benefiting from the housing program got their homes in February

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Residential program

Reading time: 2 MinutesThe Residential Program https://sakani.housing.saالتابع of the Ministry of Housing revealed that the number of families who were able to obtain homes in February reached 6207 families who actually lived in their homes, out of 13.13 thousand beneficiary families registered in the lists of the Ministry of Housing and the Real Estate Development Fund, while the total number of families who benefited from the program's various options since the beginning of the year ... Read more

The General Authority for Zakat and Income Tax (GAZT) announces the issuance of the executive regulations for the collection of zakat and sets the implementation date for the beginning of next year 2020

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Zakat & Income Tax - Zakat & Income Tax - Property Tax - Tax

Reading time: 2 MinutesThe General Authority for Zakat and Income Tax (GAZT) has set the beginning of next year 2020 as the date for the implementation of the decision of the Minister of Finance, Chairman of the Board of Directors of the Authority, to issue the executive regulations for the collection of zakat, and the decision of the rules for calculating the zakat of financing activities and the decision to bear the state's zakat and income tax on investment in government bonds and sukuk ... Read more

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