| Release Tool: | Councils and commissions decisions |
|---|---|
| Release Date: | 2024-05-03 |
| Summary: | By AI The document addresses the Real Estate Transactions Tax in Saudi Arabia, where a 5% tax is imposed on the sale of real estate to support citizens and developers. Supplies of real estate are exempt from value-added tax, and the state bears the transaction tax on first residences exceeding one million riyals in value. The authority responsible for implementing the tax is the Zakat, Tax, and Customs Authority, which aims to achieve tax compliance and regulate customs activities. The document includ... |