TAX ALERT JUNE 2025 | EXTENSION OF THE ZAKAT REGULATIONS FOR THE YEAR 1445 AH TO FISCAL YEARS BEGINNING BEFORE JANUARY 1, 2024, AND …

Extension of the Zakat Regulations for the Year 1445 AH to Fiscal Years Beginning Before January 1, 2024, and Amendment of Article 73 of the Implementing Regulations for Zakat Collection

• The Minister of Finance issued Decision No. 1463 dated 08/12/1446 AH, extending the period for requesting the application of the Zakat Regulations for the year 1445 AH to fiscal years beginning before 01/01/2024 up to 31/08/2025. It is worth noting that the exceptions mentioned in Ministerial Decision No. 1007 dated 19/08/1445 AH, which allow for a request to be submitted within 60 days from the date the Authority notifies its intent to audit fiscal years starting after the decision comes into effect, remain valid.
• Additionally, Ministerial Decision No. 1248 dated 11/10/1446 AH was issued, approving the amendment of Article 73 of the Implementing Regulations for Zakat Collection. This amendment was proposed by the Zakat, Tax and Customs Authority in January 2025 and primarily concerns clarifying the zakat treatment of off-plan sales projects. Details of the added paragraph to the article mentioned are included in our newsletter distributed in January 2025. (copy enclosed).

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