The Council of Ministers reviewed the accompanying correspondence received from the Diwan of the Presidency of the Council of Ministers under No. 1/7531 dated 28/11/375, which includes a letter from His Excellency the Minister of Finance No. 1/10252 dated 21/11/375, proposing the amendment to be introduced to the Tax Law No. 3321/28/2/17 dated 21/1/1370 AH and to the Zakat Law No. 8634/28/2/17 dated 6/1370/19 - Upon careful consideration of the explanatory memorandum for the draft amendment of the two aforementioned laws and studying the matter in a general session, and based on the financial situation requiring an increase in state revenues, it was deemed - that it is in the interest to collect the Shariah zakat from all members of the public and to regulate the income tax in a manner consistent with the economic development in the country and in line with tax systems worldwide.
Accordingly, the Council decided the following:-
First: Approval of the draft Royal Decree to be issued to amend some provisions of the Income Tax Law, a copy of which is attached hereto.
Second: Approval of the draft Royal Decree to be issued to amend the Zakat Law, a copy of which is attached hereto.
The Council aims through these measures at the highest ideals in advancing the country and elevating it to its appropriate level.
Given the foregoing, it was drafted.
Prime Minister