News 24 | “Zakat and Income Tax” spokesperson: The real...

News 24 | “Zakat and Income Tax” spokesperson: The real...
News 24 | “Zakat and Income Tax” spokesperson: The real...

A spokesman for the General Authority for Zakat and Income, Hammoud Al-Harbi, confirmed today, Monday, that the real estate tax includes long-term usufruct contracts, with a period of more than 50 years.

He added, during a workshop organized by the Al-Ahsa Chamber in cooperation with the Authority entitled “Real Estate Disposal Tax”, that the tax includes land and what is constructed or constructed on it, and is paid before or during real estate emptying or contract documentation, noting that these actions include selling, wills, financial leasing and expired leasing To own, in addition to long-term usufruct contracts.

Al-Harbi reviewed the cases exempted from the application of the tax, which included a number of cases, the most important of which was disposing of the property in cases of dividing the estate and distributing it, giving the property free of charge to the husband or wife, in addition to transferring ownership of the property without charge for an atomic endowment.

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