{"id":73474,"date":"2025-01-20T12:18:49","date_gmt":"2025-01-20T09:18:49","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=73474"},"modified":"2025-11-25T23:59:11","modified_gmt":"2025-11-25T23:59:11","slug":"%d9%85%d8%b9%d8%a7%d9%84%d8%ac%d8%a9-%d9%b1%d9%84%d9%8a%d8%a9-%d8%a7%d8%ad%d8%aa%d8%b3%d8%a7%d8%a8-%d9%85%d8%b4%d8%a7%d8%b1%d9%8a%d8%b9-%d8%a7%d9%84%d8%a8%d9%8a%d8%b9-%d8%b9%d9%84%d9%89-%d8%a7%d9%84","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/73474\/","title":{"rendered":"Addressing the mechanism for calculating off-plan sales projects in the draft amendment to the Zakat Collection Executive Regulations"},"content":{"rendered":"

\u00a0She called Zakat, Tax and Customs Authority<\/strong><\/a> The Finance and Oversight Sector has invited stakeholders to submit their views and comments on the draft amendment to the executive regulations governing the collection of zakat during the period from January 14 to 29, 2025. The draft aims to add a new paragraph to regulate the mechanism for calculating zakat Off-plan sales projects<\/strong><\/a>, in a manner appropriate to the nature of these projects.<\/p>\n

Details of the Proposed Project<\/strong><\/span><\/h4>\n

The bill centers on adding paragraph (3) to Article 73 of the regulations, which addresses zakat on real estate projects under construction. According to the new paragraph, the value of real estate under construction intended for sale is deducted, provided that they are not offered for sale in their current condition, or that their cost of sales does not exceed 25% annually of their book value as shown in the financial statements for the zakat year, in accordance with the following regulations:<\/p>\n

1. Classification of Assets: Real estate must be classified as non-current assets in the financial statements.<\/p>\n

2. Calculating percentages separately: The percentage for each project is calculated individually.<\/p>\n

3. Cost Formula: The cost of goods sold percentage is calculated using the following formula:
\n(Value of write-offs at cost = Balance at the beginning of the period + Additions during the year)<\/p>\n

4. Adjustment of Rates: The Authority reserves the right to review and adjust the rate based on market conditions.<\/p>\n

Additional Provisions in the Article<\/strong><\/span><\/h4>\n

The article also stipulates that if real estate under construction intended for sale is classified as inventory or current assets, it shall be deducted from the zakat base upon fulfillment of the conditions set forth in paragraph (1), and current liabilities must be added in accordance with Article 25 of the regulations.<\/p>\n

Zakat Rulings on Off-Plan Real Estate Projects<\/strong><\/span><\/h4>\n

According to the new paragraph, zakat on off-plan real estate projects is handled as follows:<\/p>\n

Balance Deduction: Approved projects are deducted from the zakat pool in accordance with the regulations in effect in the Kingdom, using a formula that includes the project balance and the value of additions.<\/p>\n

Separate calculation: <\/strong><\/span><\/p>\n

The formula is applied to each project individually.<\/span><\/p>\n

Classification of Assets: If part of a project\u2019s balance is classified as current assets and another part as noncurrent assets, the write-off begins with the noncurrent portion and continues with the current portion if necessary.<\/p>\n

Addition of Sources of Funds: The sources of funds for off-plan sales projects are added as provided for in Chapter III of the regulations.<\/p>\n

The Importance of the Project<\/strong><\/span><\/h4>\n

This amendment is a regulatory measure aimed at enhancing transparency and fairness in the calculation of zakat on real estate projects under construction, thereby ensuring alignment with the nature of the real estate market and its changing conditions.<\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>\u00a0The Zakat, Tax and Customs Authority (Zakat) has invited the financial and control sector to submit their views and comments on a project to amend the executive regulations for the collection of zakat, during the period from January 14 to 29, 2025. The project aims to add a new paragraph to organize the mechanism for calculating the zakat of off-plan sales projects, commensurate with the nature of these projects. Details of the proposed project The project is based on adding ... Read more<\/a><\/p>","protected":false},"author":27,"featured_media":83962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[104],"tags":[],"class_list":["post-73474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-and-regulations"],"acf":{"amlak_post_excerpt":"\u0627\u0644\u0647\u064a\u0626\u0629 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