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The General Organization for Social Insurance (GOSI) is a Saudi Arabian government agency concerned with social insurance in the country. GOSI is supervised by a board of eleven directors from government departments, employers and insured persons.
The General Authority of Zakat, Tax, and Customs (ZATCA) (Arabic: هيئة الزكاة والضريبة والجمارك) is a government agency under the Ministry of Finance in Saudi Arabia that is responsible for the assessment and collection of taxes and zakat, a form of obligatory almsgiving in Islam.
In 2019, Saudi Arabia has introduced a new scheme known as the Premium Residency (informally Saudi Green Card) which grants expats the right to live, work and own business and property in the Kingdom without need for a sponsor. [33] The unlimited duration premium residency is granted for $213,000 while the limited residency costs $26,660 per year.
Weqaya’s main strategy is to create a distinct image and identity, as a specialized Takaful insurance company, by offering Takaful insurance services and products, to the Saudi business sector and all the other sectors of Saudi community, in line with principals and regulations of Sharia, and by focusing on building one of the best ...
For first-time visitors, especially ones who aren’t familiar with the Middle East or Muslim-majority countries, it’s critical to do some research before setting off to Saudi Arabia.
A tax incentive is an aspect of a government's taxation policy designed to incentivize or encourage a particular economic activity by reducing tax payments. Tax incentives can have both positive and negative impacts on an economy. Among the positive benefits, if implemented and designed properly, tax incentives can attract investment to a country.
This break allowed homeowners who were paying mortgage insurance the ability to write off the premiums for tax years 2018, 2019, 2020 and 2021 if they itemized their tax deductions. The deduction ...
In 2012, compliance with the international payment card security standard (PCI) was achieved. In 2015, the new identity of the Saudi Payment Network, Mada, was launched. In 2016, Union Pay Cards were accepted. In 2017, two new payment services, Mada Atheer and Mada Naqd, were launched. In 2018, Mada e-Commerce service and Apple Pay were introduced.