Saudi Arabia issues final transfer pricing bylaws
Summary of key considerations
On 15 February 2019, the Kingdom of Saudi Arabia’s (KSA) General Authority of Zakat and Tax (GAZT) issued their final transfer pricing (TP) bylaws (final bylaws), accompanied by frequently asked questions (FAQs) to provide taxpayers with additional guidance on the application of the final bylaws.
Deloitte had published a summary document, expressing initial views on the draft regulations issued on 10 December 2018. The final regulations are not a material departure from the draft bylaws, but offer additional guidance and certain welcome extensions in relation to the submission of the Local file and Master file.
We have summarized critical aspects of the final bylaws, by highlighting what’s stayed the same, what’s changed, and additional clarifications provided.