ZATCA extends Transfer Pricing regulations to Zakat payers and introduces APA program
 

ZATCA extends Transfer Pricing regulations to Zakat payers and introduces APA program

May 5, 2023by admin0

ZATCA announced the approval of the proposed amendments to the Transfer Pricing Bylaws in the Kingdom of Saudi Arabia (KSA) to bring the following into effect:

  • Extend applicability of the Transfer Pricing (TP) provisions to entities who are subject to the Zakat levy (i.e. 100 Zakat paying taxpayers)
  • Introduce Advance Pricing Agreements ( provisions for Tax payers and Zakat payers.
  • The above amendments will be applicable for Financial Years starting on or after 1 January 2024.
  • Phase 1 will exempt Zakat payers with aggregated related party transactions less than SAR 100 mn from the Master File Local File requirement After 3 years, Phase 2 will exempt Zakat payers with aggregated related party transactions equal to or less than SAR 48 mn.
ZATCA extends Transfer Pricing regulations to Zakat payers and introduces APA program

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