THE STATE’S ASSUMPTION OF ZAKAT & TAX OBLIGATIONS ON INVESTMENTS IN GOVERNMENT BONDS AND SECURITIES

Release Date:	1440-07-07
Release Tool:	Ministerial decision
Issuance Instrument Number:	2218
Validity:	Valid
Date of last amendment:	1445-02-28
Summary:	By AI The Ministry of Finance in the Kingdom of Saudi Arabia has decided that the state will bear the zakat and income tax related to investment in sukuk and government bonds, provided that the sukuk holder submits their declaration within the legal timeframe and is an accountant according to their financial statements, and is not from exempt entities. Zakat is calculated based on two bases, taking into account special cases, while income tax is calculated on the net returns of the bonds according to ...

Release Date:

1440-07-07

Release Tool:

Ministerial decision

Issuance Instrument Number:

2218

Validity:

Valid

Date of last amendment:

1445-02-28

Summary:

By AI

The Ministry of Finance in the Kingdom of Saudi Arabia has decided that the state will bear the zakat and income tax related to investment in sukuk and government bonds, provided that the sukuk holder submits their declaration within the legal timeframe and is an accountant according to their financial statements, and is not from exempt entities. Zakat is calculated based on two bases, taking into account special cases, while income tax is calculated on the net returns of the bonds according to ...