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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.
As Saudi oil income declined in the late 2010s, the kingdom's international debt soared. In December 2018, Saudi Arabia announced it would be issuing bonds worth approximately 120 billion riyals ($32 billion) to cover its 4.2% GDP deficit of 131 billion riyals. [54] In January 2019, the kingdom sold bonds worth $7.5 billion. [55]
Tax loss harvesting (TLH) is an investment strategy for "generating" capital losses to gain a tax advantage. It occurs when an investor sells a security that has depreciated in value only for the tax losses. [1] [2] The effectiveness of this approach is dependant
A personal loan may offer a cheaper way out of tax debt if you can meet 3 key criteria. Learn the benefits and drawbacks — including alternatives — in this comprehensive guide.
You don’t want to owe money to Uncle Sam.If you do, Rachel Cruze wants you to pay it off as quickly as possible. During the Oct. 25 episode of the “Ramsey Show” podcast, Cruze responded to a ...
Riyadh had a population of 7.0 million people in 2022, making it the most-populous city in Saudi Arabia, 3rd most populous in the Middle East, and the 38th most populous in Asia. [9] The first mention of the city by the name Riyadh was in 1590, by an Arab chronicler. [10]
Due to the extreme heat, some businesses will close in the afternoon and reopen again later in the day. For example, in Jeddah’s historic al-Balad neighborhood , most cafes and stores shut for ...
The amount added to retained earnings is generally the after tax net income. In most cases in most jurisdictions no tax is payable on the accumulated earnings retained by a company. However, this creates a potential for tax avoidance, because the corporate tax rate is usually lower than the higher marginal rates for some individual taxpayers ...