Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 5/7/2014

Saudi Arabia - Changes to corporate income tax rules 

May 7: A ministerial resolution (MR 1776) issued in March 2014 introduces changes to Saudi Arabia’s corporate income tax rules and clarifies certain industry-specific issues, including:
  • Withholding tax on payments to related parties
  • Withholding tax on interest payments by banks
  • Forthcoming transfer pricing regulations
  • Interest paid by a foreign branch bank to its head office
  • Estimated tax
  • Authority of tax department to seek taxpayer information and assistance from other tax authorities

Read a May 2014 report prepared by KPMG: Saudi Arabia - Corporate tax by-laws amended




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