{"id":30342,"date":"2020-11-02T10:21:13","date_gmt":"2020-11-02T07:21:13","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=30342"},"modified":"2020-11-02T10:21:13","modified_gmt":"2020-11-02T07:21:13","slug":"12-%d8%ad%d8%a7%d9%84%d8%a9-%d9%85%d8%b3%d8%aa%d8%ab%d9%86%d8%a7%d8%a9-%d9%85%d9%86-%d8%b6%d8%b1%d9%8a%d8%a8%d8%a9-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/30342\/","title":{"rendered":"\u201cZakat &amp; Income reviews 12 cases excluded from real estate transaction tax"},"content":{"rendered":"<p class=\"wp-block-paragraph\">During a virtual workshop organized by the Eastern Province Chamber of Commerce and Industry titled (<a href=\"https:\/\/amlak.net.sa\/en\/%d8%b6%d8%b1%d9%8a%d8%a8%d8%a9-%d8%a7%d9%84%d8%aa%d8%b5%d8%b1%d9%81%d8%a7%d8%aa-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9\/\">Real estate transaction tax<\/a>) Recently, the scope of the tax\u2019s application and the exceptions to its application\u2014which number approximately 12\u2014 It clarified that all transactions involving sales and similar acts are subject to the real estate transaction tax, as stated in the simplified guide, which contains comprehensive information on all procedures related to the real estate transaction tax.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Cases Exempt from the Application of Real Estate Transactions<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">During the workshop, Hamoud Al-Harbi, the Authority\u2019s official spokesperson, outlined the areas in which the tax applies and the exceptions to its application, which number approximately 12, including: the transfer of real estate in cases of estate division or distribution; the gifting of real estate without consideration to a spouse or a relative up to the second degree; and the transfer of real estate ownership without consideration to a family endowment, a charitable endowment, or a licensed charitable organization; the transfer of real estate to a government entity, a public legal entity, or entities and projects serving the public interest; the transfer of real estate by a government entity in its capacity as a public authority outside the scope of economic, investment, or commercial activity; and other exceptions.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Real Estate Transaction Forms<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Hamoud Al-Harbi explained that the real estate transaction tax is a tax at a rate of (%5) calculated on the total value of real estate transactions, which include sales, bequests, financial leases, and leases with an option to purchase, regardless of the property\u2019s condition, form, or use at the time of the transaction. It covers land and anything erected, constructed, or built upon it, and is paid before or during the real estate transfer or the notarization of contracts. He noted that these transactions include: sale, bequest, finance lease, lease-to-own, as well as long-term usufruct contracts with a term exceeding 50 years.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Support for Citizens and Real Estate Developers<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">Al-Harbi said that the tax is intended to support citizens <a href=\"https:\/\/amlak.net.sa\/en\/%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d8%a7%d8%aa-%d9%88%d8%b6%d8%b1%d9%8a%d8%a8%d8%a9-%d8%a7%d9%84%d8%aa%d8%b5%d8%b1%d9%81%d8%a7%d8%aa-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9\/\">and real estate developers<\/a>, explaining in detail the differences between the Real Estate Transactions Tax and the Value-Added Tax, reviewing the real estate transactions subject to the Real Estate Transactions Tax and the procedures for paying the tax, as well as violations and fines related to the Real Estate Transactions Tax and the procedures for paying them to the Authority. He also explained the steps for completing the title transfer procedures at the Ministry of Justice. In addition, he provided an explanation of the executive regulations and the simplified guide for the Real Estate Transactions Tax.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The meeting is part of the committee\u2019s efforts, in collaboration with the General Authority for Zakat and Income, to shed light on the real estate transaction tax and highlight key issues related to the real estate and urban development sectors, given their important role in national development and in achieving the goals of Vision (2030).<\/p>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">Minutes<\/span><\/span>The General Authority for Zakat and Income Tax (GAZT) reviewed the areas of application of the tax and the cases excluded from application during a workshop organized remotely by the Eastern Chamber under the title \"Real Estate Transaction Tax\" recently The Authority explained that all transactions that take place in the form of sales and the like are subject to real estate transactions tax, as stated in the simplified guide and the content of the ... <a title=\"\u201cZakat and Income\u201d Reviews 12 Cases Exempt from Real Estate Transaction Tax\" class=\"read-more\" href=\"https:\/\/amlak.net.sa\/en\/30342\/\" aria-label=\"Read more about \u201cZakat and Income\u201d: A Review of 12 Cases Exempt from Real Estate Transaction Tax\">Read more<\/a><\/p>","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"\u0636\u0631\u064a\u0628\u0629 .. &quot;\u0627\u0644\u0632\u0643\u0627\u0629 \u0648\u0627\u0644\u062f\u062e\u0644&quot; 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