Month: August 2023

Reading time: < 1 MinuteThe Zakat, Tax and Customs Authority (ZTCA) has called on businesses subject to the Value Added Tax (VAT) system whose annual supplies of goods and services exceed SAR 40 million to submit their tax returns for the month of July, no later than August 31. The Authority urged enterprises to submit their tax returns via the website zatca.gov.sa, or ... Read more

Reading time: < 1 MinuteThe Wafi Committee for Sale or Leasing on the Map (Wafi) confirmed that the exclusion of real estate transactions for off-plan sales projects will motivate landowners and developers to successfully partner to develop projects with the off-plan sales system and benefit from its advantages, which will enhance the supply of housing units and multiple options in the real estate market, and reduce the cost of home ownership for Saudi families. Real Estate Actions Fruitful cooperation with Wafi ... Read more

Reading time: < 1 MinuteThe Ministry of Justice revealed that the number of real estate deeds merged in Saudi Arabia during the current Hijri year amounted to about 24,000 deeds, while investment and commercial properties accounted for about 55% of these properties whose owners requested to merge them from the notaries. Notaries in the Riyadh region recorded the highest percentage with 33.5%, with 8,032 deeds, followed by the Makkah region with 7,805 deeds, ... Read more

Reading time: < 1 Minute The Ministry of Municipal and Rural Affairs and Housing revealed that the total number of opportunities offered through the ForUs portal during the first half of this year amounted to about 6,000 opportunities, while more than 3,000 opportunities were offered in various Saudi cities for short-term contracts for temporary events and activities. The total number of investment opportunities offered by government agencies included ... Read more

Reading time: < 1 MinuteThe Ministry of Commerce has urged limited liability companies to file their financial statements electronically to avoid falling into violations of the provisions of the Companies Law. The Ministry of Commerce revealed that the financial statements of the limited liability company are prepared for each fiscal year by the company's manager, who attaches a report, including the company's activity and financial position for the past year and the proposed method of distributing ... Read more

Reading time: < 1 MinuteThe Minister of Finance, Mohammed bin Abdullah Al-Jadaan, Chairman of the Board of Directors of the Zakat, Tax and Customs Authority, approved amendments to the Executive Regulations of the Real Estate Transaction Tax. The Umm Al-Qura newspaper reported in its latest issue that the new amendments to the Executive Regulations of the Real Estate Transactions Tax will be implemented from the date of their publication. To view the details of the amendments, click here