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The Real Estate Transaction Tax (RETT) was introduced in the Kingdom of Saudi Arabia (KSA) with effect from 4 October 2020. Unless specifically exempted it applies to all land and property sales (and rights thereto), assignments, transfers and similar that take place in the Kingdom.
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The Real Estate Transaction Tax (RETT) was introduced in the...
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The real estate transactions tax is a tax that is imposed at a rate of 5% on all real estate. transactions, including: Sale. Bequest. Financial leasing. Lease-to-own process. Long-term usufruct contracts whose duration is more than 50 years. The real estate transactions tax is calculated according to the price agreed upon between the.
15 lut 2024 · Key Points: Sale of Real Estate: Exempt from VAT since October 2020. Purchase of Real Estate: Subject to Real Estate Transaction Tax (RETT) of 5% of the property value. Rental of...
Real Estate Transaction Tax (RETT) was introduced in the Kingdom of Saudi Arabia (KSA) with effect from 4 October 2020. Unless specifically exempted, the tax applies to all land and property sales, assignments, transfers and similar activities that take place in the Kingdom.
24 sty 2021 · The Board of Directors of the General Authority of Zakat and Tax (“GAZT”) has approved the amendment/additions to Article (3) paragraph (a) of the KSA Real Estate Transaction Tax Implementing Regulations.
30 sie 2022 · The Saudi Zakat, Tax and Customs Authority has made amendments to regulations for the Real Estate Transactions Tax, including several exemptions. The tax on real estate disposal...
14 mar 2021 · In the Kingdom of Saudi Arabia, all the sales and disposal of real estate were subject to value added tax at the basic rate of 15%. Real estate transactions have been exempted from value added tax as of October 4, 2020, and instead, real estate disposal tax at a rate of 5% has been added to any real estate transaction.