Ministerial Decision No. (2218) for the year 1440

Type:	Ministerial decision
Date:	1440-07-07
Document Number:	2218
Source:	Zakat, Tax and Customs Authority
Summary:	By AI The document addresses the state's liability for zakat and income tax related to investment in sukuk and government bonds in Saudi Arabia. According to the ministerial decision, the amount of liability is calculated based on an equation that takes into account the adjusted net profit, the returns on sukuk and bonds, and the tax rate. This applies to financial years starting from January 1, 2020, and includes sukuk issued locally in Saudi Riyals only. Sukuk or bond holders must submit their tax d...

Type:

Ministerial decision

Date:

1440-07-07

Document Number:

2218

Source:

Zakat, Tax and Customs Authority

Summary:

By AI

The document addresses the state's liability for zakat and income tax related to investment in sukuk and government bonds in Saudi Arabia. According to the ministerial decision, the amount of liability is calculated based on an equation that takes into account the adjusted net profit, the returns on sukuk and bonds, and the tax rate. This applies to financial years starting from January 1, 2020, and includes sukuk issued locally in Saudi Riyals only. Sukuk or bond holders must submit their tax d...