Corporate income tax rules are governed by the Income Tax Law (Tax Law), which came into force in 2004. The Tax Law is supplemented by implementing regulations (by-laws). The Ministry of Finance issues ministerial resolutions concerning aspects of tax and zakat, a payment under Islamic law that is used for charitable or religious...
With the recent introduction of transfer pricing (TP) regulations, Saudi Arabia edges closer to the alignment with global taxation trends. As of February 15, 2019, the General Authority of Zakat and Tax (GAZT), issued the final approved TP By-laws. The by-laws are based on the OECD model and are an integral part of the base erosion and profit...
Aided by easier and cheaper travel, global tourism has experienced two decades of almost uninterrupted growth. According to the World Bank, the number of international departures more than doubled between 1997 and 2017, from 687m to 1.57bn per annum.
What are the key elements that have been able to jump-start the entertainment industry?
Nestled between two seas and two continents, Saudi Arabia stretches over 2.1m sq km, an area as large as Western Europe. Its diverse landscapes offer a wide variety of scenery, while its rich history, culture and significance to Islam attract visitors from around the globe, making it one of the most visited countries in the world. However, the...
In which segments can food manufacturing be localised in the context of halal production?
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