شركة أسامه عبداللـه الخريجى وشركاؤه

Portfolio
Portfolio
Zakat and Taxes
The Zakat and Tax Department strives, through its expertise and competencies, to support taxpayers. Beginning with the preparation and submission of zakat and tax returns for both entities and individuals, followed by the efficient submission of zakat and tax advisory and planning services. We aim to assist taxpayers to respond to Zakat, Tax, and Customs Authority (ZATCA), with regards to inquiries or requests. Utilizing our experience and proficiency, we seek to provide the necessary assistance in implementing the regulations and legislation applicable in the Kingdom of Saudi Arabia.
Our Services:
1. Support in preparation and submission Zakat and Income Tax returns:
  • Zakat and Income Tax Return: We assist the taxpayer in understanding the items of the Zakat and tax return and provide supporting documents for filing the Zakat and tax return in accordance with the regulations and applicable systems
  • Withholding Tax Return: Aiding the taxpayer in determining the applicable tax rate and filing the withholding tax return.
2. Support in preparation and submission of indirect tax returns:
  • Value Added Tax (VAT): Assistance in monitoring the input and output components for VAT return for tax filings.
  • Excise Tax: Assisting the producer and importer of excise goods in filing the excise tax return.
3. Assistance in responding to inquiries from the Zakat, Tax, and Customs Authority:
  • Support in understanding and responding to inquiries: studying submitted returns, and addressing queries based on provided information.
  • Assistance with objection on reassessment of Zakat and taxes: studying reassessments issued by Zakat, Tax, and Customs Authority (ZATCA) and assisting taxpayers with filing objections on reassessments.
4. Zakat and Tax Consultations:
  • Zakat and Tax Impact Analysis of Contracts: We conduct a comprehensive examination and analysis of contracts to determine the zakat and tax implications of the contract on the taxpayer, thereby assisting the taxpayer in decision-making processes.
  • Zakat and Tax Planning: We undertake a thorough examination of the zakat base components within financial statements to assist the taxpayer in making decisions inline with the zakat objectives.
  • Assistance with Installment Plan Request: We aid the taxpayer in submitting a request to installment the due amounts to Zakat, Tax, and Customs Authority.
Detailed Content
Detailed Content

The Zakat and Tax Department strives, through its expertise and competencies, to support taxpayers. Beginning with the preparation and submission of zakat and tax returns for both entities and individuals, followed by the efficient submission of zakat and tax advisory and planning services. We aim to assist taxpayers to respond to Zakat, Tax, and Customs Authority (ZATCA), with regards to inquiries or requests. Utilizing our experience and proficiency, we seek to provide the necessary assistance in implementing the regulations and legislation applicable in the Kingdom of Saudi Arabia.

1. Support in preparing and submitting Zakat and tax returns:

● Providing a service to establishments maintaining regular books through conducting an analysis of the financial statements issued for the financial period to provide support in filing zakat and income tax returns in accordance with the regulations and implemented laws.

● Reviewing the taxpayer's draft of return after filling out the (zakat/tax) form on the authority’s electronic portal for discussion and approval.

● Assisting taxpayers in understanding (Zakat / tax) return components and related regulations.

● Withholding tax services are provided in cases a company or individual not resident in the Kingdom generates income from within the Kingdom. The responsibility for collection falls on the taxpayer registered with the authority. We conduct an analysis of the contract and study the invoices between the taxpayer and the foreign company to determine the applicable tax rate and submit the withholding tax return for the taxpayer to be withheld from the foreign company.

2. Support in preparing and submitting indirect tax returns:

● Value Added Tax (VAT): Assisting taxpayers in understanding VAT regulations, providing professional support for a thorough understanding of the due tax, and preparing supporting documents to facilitate quick responses to inquiries (if any) and avoid penalties.

● Excise Tax: Assisting both producers and importers of excisable goods in understanding the regulations and rules governing excise tax. We provide professional support to ensure sufficient comprehension leading to accurate determination of the due tax and provision of supporting documentation for returns, thereby ensuring prompt responses to inquiries (if any) to help taxpayers avoid penalties.

● Real Estate Transaction Tax: We assist taxpayers in understanding the regulations and rules specific to real estate transaction tax. This enables taxpayers to complete the necessary procedures for payment of the tax or to fulfill the documentation requirements for applying for exemption from the real estate transaction tax in accordance with tax regulations and laws.

3. Assistance in responding to Zakat and tax inquiries:

● Assistance in responding to inquiries: We provide support to the taxpayer in understanding inquiries sent by the authority for the examination of the submitted returns and assisting them in responding to inquiries based on the provided information. Additionally, we review financial statements and supporting documents along with identifying relevant regulations that support the taxpayer's position in responding to the authority appropriately.

● Assistance with objections on reassessments of tax and zakat: We analyze reassessment notices issued by the Zakat, Tax, and Customs Authority and assist the taxpayer in submitting objections on reassessments to zakat and tax by supporting the taxpayer's position with zakat and tax regulations. We also study the financial statements from previous years if the reassessment pertains to carried balances from previous years.

4. Zakat and Tax Consultations:

● Zakat and Tax Impact Analysis of Contracts: We undertake a financial analysis of contracts to ascertain the zakat and tax impact on the taxpayer's operations, thereby assisting the taxpayer in making informed decisions and appropriate planning.

● Tax and Zakat Planning: We conduct a thorough examination and analysis of the items in financial statements to identify the factors influencing the Zakat and tax base. This assists the taxpayer in mitigating the Zakat and tax burden in accordance with regulations and legislation.

● Assistance with Installment Plan Request: Assisting in applying to installments for the due amounts to Zakat, Tax, and Customs Authority by examining the necessary conditions required upon submission.