VAT and Real Estate Transaction Tax (RETT) has been saved
VAT and Real Estate Transaction Tax (RETT)
Key points to consider
Deloitte Middle East’s Tax and Real Estate teams are pleased to provide you with a summary of our understanding of the Real Estate Tax laws and regulations issued by the General Authority of Zakat and Tax (GAZT).
The Real Estate Transaction Tax (RETT) was introduced in Saudi Arabia on 4 October 2020. It applies to all land and property sales, assignments, transfers and similar that take place in the Kingdom unless specifically exempted. The paper summarises the most important applications of RETT and Value Added Tax on different types of real estate assets and tenures.
If you would like to learn more or have any queries, please contact Saud Alquaifil.