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How real estate exchange deals are taxed in Saudi Arabia

Saudi Zakat, Tax and Customs Authority clarifies 5% real estate transaction tax applies to property swaps, with some exemptions under executive regulations.

How real estate exchange deals are taxed in Saudi Arabia

Saudi Arabia has commenced new inspection and monitoring mechanisms targeting private and non-profit organisations that infringe upon the rights of individuals with disabilities. The Authority for the Care of People with Disabilities has begun exercising its powers under Article 25 of the Kingdom's Law on the Rights of Persons with Disabilities, with penalties for egregious breaches reaching SAR500,000 ($133,000).

These measures encompass non-governmental organisations, such as private businesses and non-profit entities, and aim to ensure compliance with Saudi law, which guarantees rights and services to people with disabilities. Among the violations targeted are direct or indirect discrimination based on disability, discriminatory treatment, hindrance of legal transactions, and restrictions on access to education, healthcare, financial services, and transportation for people with disabilities.

Inspectors can conduct periodic compliance checks, investigate complaints, access business premises, request documents, and question company representatives. A specialised committee will review violations by non-governmental organisations and impose penalties, with varying maximum fines based on the nature of the offence. The highest penalty, SAR500,000, applies to organisations with policies involving direct or indirect discrimination based on disability. Penalties may be doubled for repeated violations.

Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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