And the General Authority for Zakat and Income announced that, in cooperation with the Ministry of Housing, today, work procedures have been unified with regard to benefiting from the initiative to bear the tax of real estate disposals for the first residence for a citizen, with no more than one million riyals from the home purchase price, without the need to pay the tax amount to The authority, and then retrieved it later from the Ministry of Housing, thanks to the electronic link between the two parties.
“Zakat and Income” and “Housing” clarified in a joint statement that the buyer – the beneficiary of an initiative that the state bears tax on real estate disposal for the first home – obtain a certificate of “first home” from the website of the Ministry of Housing (www.housing.gov.sa),
She added, that he submits it to the seller, who in turn logs into the website of the General Authority for Zakat and Income (gazt.gov.sa), then chooses the service (real estate disposal tax) and then (real estate registration request), and after entering the property and the buyer’s data, the Authority will confirm that The buyer for support, then excluding the tax amount from the sale amount less than one million riyals, and imposing it at a rate of 5% on the amount in excess.
The Zakat and Income Authority and the Ministry of Housing continued in the same context that the seller, whether an individual or an establishment, could also enter the data of the real estate deed or contract, disclose the nature of the disposition, and then issue the invoice and pay the tax amount as a requirement to end the emptying process at the notary public or finish the documentation Real estate disposal, thanks to the electronic link with the Ministry of Justice.
The ministry stated, in an infographic, that the service will be available starting today, Wednesday, October 28.
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