Saudi Arabia’s Zakat, Tax and Customs Authority warns businesses to submit Value Added Tax before end of the year
Zakat
Latest in Zakat
Income Tax
Saudi Arabia begins ‘significant’ income tax reform: Everything you need to know
Saudi Arabia has proposed new income tax and procedures laws opening for public feedback until December 25, as part of reforms to modernise its tax system, increase transparency, and encourage foreign investment – Here’s everything you need to know
Saudi economy
Saudi Arabia issues new tax warning
Saudi authorities have told businesses to pay tax or face major fines
Saudi economy
Saudi Arabia issues tax fine warning
Saudi Arabia warns companies of fines of up to 25 per cent of owed tax if deadlines missed
Saudi economy
Saudi Arabia issues tax warning
Saudi authorities have told businesses to pay tax or face major fines
Capital Markets
Tadawul Group’s net profit up 17% to $156.6mn in 2021 following strong Saudi Capital Market performance
The Tadawul Group’s revenues were up 8.01% year-on-year to $309.15 million in 2021, predominantly driven by solid growth in trading services, post trade services, and listing fees, on the back of strong Saudi Capital Market performance.
2020 Islamic Philanthropy Report
Zakat funds: Gulf generosity helping thousands through UN’s Refugee Zakat Fund
The United Nations High Commissioner for Refugees (UNHCR) has launched its 2020 Islamic Philanthropy Report, highlighting the impact of their Refugee Zakat Fund, which received a total of $43,165 million in 2019, allowing UNHCR to support 191,497 refugees and internally displaced families in 2019.
10 Million Meals
In pictures: Over 4 million food distributed as part of ’10 Million Meals’ initiative
The campaign, the UAE’s largest food distribution drive, will continue throughout the month of Ramadan. The campaign, led by Sheikha Hind bint Maktoum bin Juma Al Maktoum, chairperson of the board of trustees of the UAE Food Bank, has received donations from companies, humanitarian organisations, businessmen, government and private entities to support communities affected by the Covid-19 pandemic in the UAE.
Charity
The power of giving during Ramadan
Zakat is a major tool of Islamic social financing and a foundation for promoting sustainable community development
General Authority for Zakat and Tax
Saudi Arabia said to mull raising tax on local banks
Sources say Gulf kingdom is considering plans to increase an Islamic tax paid by local banks to as much as 20%
Al Rajhi Bank
Saudi bank stocks dip after Islamic levy settlement
Stocks of all but one of the members of the Tadawul Banks Index fell