top of page

Saudi Arabia

Delivery:

Price: $

Payment methods:

payment methods.webp
UK comapny formation (1).webp

About

Saudi Arabia

Capital
Official languages
Population 
Currency

ISO 4217

Riyadh

Arabic

34,813,871 (as of July 2020)

Saudi Arabian Riyal

SAR

Document checklist:

Process

Economy

Saudi Arabia has a strong and diversified economy, with a GDP of $737.6 billion in 2019. It is the largest economy in the Middle East and North Africa region, and the 19th largest in the world. The country is a major exporter of oil, accounting for over 12% of global oil exports in 2019. It is also a major exporter of natural gas, accounting for over 8% of global natural gas exports in 2019. The country has also invested heavily in renewable energy, with plans to generate 9.5 gigawatts of renewable energy by 2023. The country has also seen a surge in foreign direct investment, with FDI inflows reaching $7.2 billion in 2019. The country has also seen a rise in tourism, with over 30 million visitors in 2019. Overall, Saudi Arabia has a strong and diversified economy, with a bright future ahead.

Taxation

Saudi Arabia is a sovereign Arab state located in the Middle East, and its taxation system is governed by the Zakat, Tax and Customs Authority (ZATCA).


Corporate taxation in Saudi Arabia is levied on resident companies at a flat rate of 20% on their net income. Non-resident companies are taxed only on income generated within the country. There are also additional taxes, such as the Zakat, which is a religious tax on assets held by Saudi Arabian companies, and the General Authority of Zakat and Tax (GAZT) is responsible for administering it. Companies must file an annual tax return and pay their taxes within 120 days from the end of their fiscal year.


Personal taxation in Saudi Arabia is based on a progressive tax rate system ranging from 0% to 30% on all income earned by residents. However, there are some exemptions and deductions available for certain types of income, such as investment income and capital gains. The GAZT is responsible for administering personal income tax in Saudi Arabia. Individuals must file an annual tax return and pay their taxes within 120 days from the end of the tax year.


In addition to income tax, Saudi Arabia also has a Value Added Tax (VAT) of 15%, which is levied on most goods and services. Registered businesses are required to collect VAT from their customers and remit it to the government. VAT returns and payments are due monthly or quarterly, depending on the size of the business.


Taxpayers in Saudi Arabia can file their tax returns and make payments online through the GAZT website. The tax calendar in Saudi Arabia runs from January to December, with tax returns and payments due within 120 days from the end of the fiscal year for corporate taxes and the end of the tax year for personal taxes. The VAT returns and payments are due monthly or quarterly, depending on the size of the business.


It's important to note that Saudi Arabia also has strict penalties for non-compliance with tax laws, including fines, imprisonment, and even deportation for foreign residents.

Company incorporation application form

Representative

Chosen company name

Main business activity

Legal address of director

Extra services

Submit ✉

Your inquiry has been submitted. Thank You!

We will contact you shortly…

PDF application form

B2B hub provides fillable PDF application forms, you can simply save the filled form and send us by email clicking here  reg@b2bhub.uk or live chat

bottom of page