The Zakat, Tax and Customs Authority (‘ZATCA’) announced that property deals in Saudi Arabia are exempted from a 15 percent value-added tax (VAT) to support the real estate sector as of 4 October 2020.
After that ZATCA issued a Ministerial Resolution approving the rules and regulations for considering a licensed real estate developer as qualified persons. The Ministerial Resolution entered into effect from the date of issuance i.e. 30 November 2020
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