Discover how foreign-owned businesses in Saudi Arabia should register for corporate tax, the required documents, tax rates, and penalties for non-payment. Let BMS Auditing guide you through the process.
Historically, the tax of Zakat has set the standard for Saudi Arabia. Zakat is the Islamic wealth tax for Muslim-owned businesses. However, as the Saudi economy becomes more diverse and large, there is a need for a better-structured tax framework that applies to foreign and non-resident entities. Corporate Tax makes Saudi Arabia assimilate with international investment practices.
At BMS Auditing, we offer services about how businesses should register and file corporate tax in Saudi Arabia. Our guide covers the following:
- Importance of Corporate Tax
- How to register for Corporate Tax
- Required documents for registration
- Saudi Arabia Corporate Tax Rate
- Penalty for non-payment
Corporate Tax in Saudi Arabia applies to profits earned by foreign-owned businesses and certain mixed-ownership companies. Saudi nationals and GCC citizens are only subject to Zakat and are exempt from Corporate Tax.
Let BMS Auditing ensure your business stays compliant with Saudi Arabia's Corporate Tax regulations.
