Saudi- Ernst 1amp Young hosts seminar on Zakat regulations
(MENAFN – Arab News) Ernst & Young one of the world’s leading professional services organizations hosted the 12th annual tax seminar on recent updates on Saudi Arabian zakat regulations and corporate income tax Law and its bye-laws in Jeddah on Thursday. Over 100 executives bankers and accountants attended this Seminar.
The seminar organized by Ahmed I. Reda office managing partner of Ernst & Young Jeddah laid emphasis on the updates related to Zakat regulations corporate income tax and withholding tax in accordance with the new tax law and its bye-laws as well as clarifications issued by the Department of Zakat and Income Tax (DZIT) applicable to all Saudi businesses.
Mohammed Desin of Ernst & Young a leading senior Saudi Arabian Tax and Zakat practitioner in the region maintained that Ernst & Young’s clients understand the value of commitment to service and that they were proud to have provided professional tax and zakat services to a wide range of clients including large multinational corporations and Saudi business groups which have complete confidence in their professionalism and dedication to exceptional quality service.
Desin provided an overview of the Saudi Arabian tax and zakat regulations and other business related issues.
Faisal Tanvir provided an update on the corporate tax regulations and other regulatory developments.
Irfan Alladin senior Saudi Arabian Tax and Zakat practitioner gave an update on Zakat matters and an update on the practice adopted by the DZIT to carry out field inspection. He informed participants that new zakat regulations are currently being reviewed by competent authorities.
Hanif Khatri provided an update on withholding tax matters and appeal decisions relating to withholding tax issues.
Craig McAree international tax service and transfer pricing leader for Saudi Arabia briefed participants on the double tax avoidance treaties signed by Saudi Arabia.
