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The details of the articles of the Real Estate Transaction Tax Law after the Cabinet's approval

Reading time: 2 Minutesأعلنت المملكة العربية السعودية مؤخرًا عن موافقتها على نظام ضريبة التصرفات العقارية، وهو قرار يعكس التزام الحكومة بتعزيز الشفافية في قطاع العقارات وتحسين نظم الحوكمة ... Read more

Law sets 5% tax on real estate transactions with exemptions, penalties, enforcement mechanisms and a deadline to correct the situation

12/10/2024

Zakat, Tax and Customs Authority
Residential plot

برنامج الأراضي البيضاء يعلن عن الانتهاء من تطوير أرض بمساحة 1.2 مليون متر مربع في الرياض

“Wafi removes marginalization from the deeds of the Meem Tower commercial and residential projects in Riyadh and Golden Tower in Jeddah

Electricity bills

Electricity Regulatory Authority makes amendments to allow retroactive bill corrections, repairs and meter changes

فحص العقارات

«الشامل لفحص المباني» تقدم حلول الجودة المتكاملة.. فحص المباني والتأكد من مطابقة المواصفات يقلل الهدر ويطيل عمر العقارات

وزارة الإسكان تجدد دعوتها للمواطنين للاستفادة من برنامج البناء المستدام وخدمات فحص المباني الجاهزة

Value Added Tax

Organizations have the right to correct return errors. «Zakat and Income» emphasizes tax returns and threatens fines for defaulters

Property

The 33-article system The Shura Council approves the draft law on the ownership and sorting of real estate units  

Government Procurement - Ministry of Finance - Real Estate Investment

Ministry of Finance launches 4 e-services through Etimad digital platform to facilitate financial procedures and transactions

Real estate loans

Saudi Arabian Monetary Authority (SAMA) launches the national electronic platform for business invoices “Receipt Platform”

real estate - building permits - projects - residential real estate development - projects - schemes - residential projects

Developer Services Center intensifies its preparations to implement the electronic link for issuing building permits, meets with a number of municipality secretariats

Investment

Emphasized the strength of the Saudi financial system The Kingdom reserves its permanent seat on the Financial Action Task Force (FATF)“

Real estate appraisal

Penalties include financial penalties, and the committee approves 50 violations. Violators will be removed from the registry

Real estate

Shura Council approves amendments to the Law on Expropriation of Real Estate for Public Benefit and Placement of Hands

Plot of land

Development of two fee lands with an area of 70,000 square meters Ministry of Municipal and Rural Affairs approves planning

VAT Payment - Real Estate

Ministry of Housing issues 52.22 thousand tax exemption certificates as of the end of May

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