TAX & ZAKAT

Direct & Indirect Taxation

We provide specialized and practical advice which is tailored to your business needs. Through our years of experience we have provided taxation services to a number of large corporations, working closely with their directors to minimize liabilities.  Our line of services here includes the following:

  • Assessing compliance with local regulations and laws for corporate, individual, withholding tax
  • Reviewing and signing off on corporate income tax returns
  • Providing practical tax review services for all tax types including VAT, stamp duties, customs
  • Payroll services and employee taxation compliance
  • Tax consultations to minimize tax exposure

International Taxation

Protecting your wealth is our primary concern and effective tax planning has a large part to play in this process. Our accountants have vast experience providing efficient and strategic wealth management strategies to both individuals and corporations within the Kingdom of Saudi Arabia and internationally.

Our services here include the following:

  • VAT services for international companies
  • Corporate Income Taxes for foreign companies
  • International tax planning projections and calculations
  • Efficient use of foreign tax credits
  • Financings and re-financings
  • Withholding tax determinations, remittance and compliance
  • Foreign exchange planning and calculations
  • Tax treaty planning and interpretation including permanent establishment planning and determinations, limitation on benefits determinations and reducing or elimination.

Transaction Tax

Restructuring aims to achieve operational, financial, and/or legal efficiencies, however if done incorrectly, it can have negative tax consequences upon enterprise working in Saudi Arabia or offshore. Efficient planning and analysis is therefore necessary to minimizing the tax costs involved in restructuring exercises.

In general, we provide transaction tax and tax due diligence services for:

  • Acquisition structuring and restructuring
  • Merge and acquisitions
  • Cash repatriation
  • Initial Public Offering “IPO” preparations and tax related matters

Transaction Tax

Restructuring aims to achieve operational, financial, and/or legal efficiencies, however if done incorrectly, it can have negative tax consequences upon enterprise working in Saudi Arabia or offshore. Efficient planning and analysis is therefore necessary to minimizing the tax costs involved in restructuring exercises.

In general, we provide transaction tax and tax due diligence services for:

  • Acquisition structuring and restructuring
  • Merge and acquisitions
  • Cash repatriation
  • Initial Public Offering “IPO” preparations and tax related matters

Tax Accounting

Due to the increased demand for transparency from businesses and the growing complexity of tax laws, regulations, IFRS and the Saudi GAAP we have developed a number of professional tax accounting services to assist our clients with the following:

  • Assessing the tax function process by the client in order to develop their performance and to include the tax function to be part of the internal control process, if needed
  • Implementing tax policies and procedures
  • Assisting our clients in their periodical tax provision calculations under the Saudi GAAP / IFRS
  • Identifying and quantify the tax risks, and advising how to reduce or mitigate the tax risks and exposures

Transfer Pricing

We have high qualified team to perform various types of professional Transfer Pricing (TP) documentation reports including:

  • Functional analysis
  • Financial analysis
  • Company and industry analysis
  • Selecting TP methods
  • Comparable search

In addition to TP planning and advice on:

  • Preparation of the File of Full  Discloser
  • Preparation The Local File
  • Preparation of the Master File
  • Country by Country Reporting (CbCR) – As BEPS Action 13 continues to be implemented by an increasing number of countries, it is imperative for businesses (especially large enterprises) to ensure that the narrative of the CbCR forms accurately reflects where their functions, assets and risks are located, and does not suggest one that allows tax authorities to impute an alternative interpretation more to their liking.
  • Our approach to transfer pricing is built to provide solutions that are clear, comprehensive, concrete and convincing. Let our experienced Andersen Tax professionals help you solidify your transfer pricing position.

Zakat Services

We at Alrikaz provide the following Zakat Services:

  • Zakat returns
  • Zakat consultancy services
  • Zakat appeals against GAZT decisions
  • Zakat agreements and arbitrations
  • Zakat discloser agreements with GAZT
  • Zakat settlements and finalizations
  • Preparations letters of easy payments