Zakat and Tax in KSA

Overview

In the current era witnessing rapid developments in the financial landscape, understanding the concepts of Zakat and taxes is of paramount importance. Both Zakat and taxes play vital roles in economic development and societal well-being. For individuals, companies, and organizations operating in the Kingdom, compliance with these financial obligations is not only a legal requirement but also an ethical duty.
This carefully designed course aims to provide participants with a deep understanding of the principles, laws, and practices of Zakat and taxes in the Kingdom of Saudi Arabia. Whether you are a business owner, financial professional, or an individual seeking clarity on your financial responsibilities, this course is tailored to meet your needs.

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Outcome

Comprehend the Concept of Zakat and its Economic and Social Roles

Analyze Types of Taxes and their Applicable Laws in Saudi Arabia

Identify Assets Subject to Zakat and Possible Exemptions

Evaluate Facilitations and Benefits for Tax Compliance

Apply Practical Examples of Calculating Zakat and Taxes

Details

Developed by: Beacon FinTrain
Total Hours: 6 Hrs
Language: English - Bilingual "English & Arabic"
Modalities: 
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Outline

  • The General Framework of Taxation in the Kingdom of Saudi Arabia.
  • The Concept of Tax Accounting and its Characteristics.
  • The Basic Rules of Tax Imposition.
  • Objectives of Taxation.
  • Types and Divisions of Taxes.
  • The Concept of Tax Doubleton and its Types.
  • Indirect Tax Structure in the Kingdom.
  • The Concept of Zakat and Zakat able Assets.
  • Zakat Collection in the
  • Kingdom and the Entities Subject to it
  • Procedures for Inspection, Linkage, and Collection of Zakat.
  • Zakat Base.
  • What is Value-Added Tax (VAT)?
  • Taxable Goods.
  • Exempted Goods and Possible Exemptions.
  • Zero-Rated Tax.
  • Differences between Sales Tax, Value-Added Tax, and Excise Tax.
  • The Purpose of Tax Declaration.
  • Mechanisms for Submitting Tax Declarations.
  • Practical Cases on Writing Tax Declarations.
  • Requirements for the Validity of VAT Tax Declaration.
  • Tax Evasion, Avoidance, and Planning.
  • Types of Tax Evasion.
  • The Role of Tax Inspection.
  • Requirements for Tax Audit and Inspection
  • Practical case Studies to practice calculating Zakat.

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Who Should Attend

  • Finance and accounting professionals.

Why Beacon

Quality

Beacon FinTrain prioritizes excellence in every service, ensuring top-notch, reliable, and consistent outcomes that meet and exceed client expectations.

Specialization

We focus on finance, offering expert knowledge and bespoke solutions that cater to the unique needs of finance professionals in the Middle East and Africa.

Punctuality

Time is money. We respect deadlines, delivering precise and timely results to help our clients stay ahead in the fast-paced financial world.

Guidance

Beacon FinTrain is a guiding light in finance, providing insightful advice and support to navigate the complexities of financial markets and regulations.

Integrity

We uphold the highest ethical standards, fostering trust and transparency in all our dealings to build lasting relationships with clients.

Flexibility

Adapting to the dynamic finance sector, we offer versatile services and solutions that align with the evolving needs of our clients.