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ZATCA on 28th February 2025, announced the 21st wave of taxpayers for implementing integration (phase 2) of e-invoicing, which now includes taxpayers whose taxable revenues exceeded SAR 1.25 Million during the years 2022, 2023 or 2024.

Our ‘Insights into IFRS 3’ series summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.

Mergers and acquisitions (business combinations) can have a fundamental impact on the acquirer’s operations, resources and strategies. For most entities such transactions are infrequent, and each is unique. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions, which can be challenging in practice.

This year’s report calls for a decisive shift in approach, aligning with the International Women’s Day 2025 theme: "Accelerate Action." We can no longer afford to wait. The missed opportunities for businesses, economies, and the next generation of female leaders are too great. To remain competitive in a rapidly evolving business landscape, mid-market firms must take bold steps now—setting ambitious diversity targets, embedding gender equality into their strategic agendas, and fostering environments where women can thrive at all levels of leadership.

A significant update from the Zakat, Tax, and Customs Authority (ZATCA). On February 17, 2025, ZATCA issued a tax bulletin outlining the mechanism, requirements, and obligations for applying for VAT refunds on expenses incurred by donors for Public Benefit Projects, as per Article 70(a) of the KSA VAT Implementing Regulations.

The latest update is the Transfer Pricing Regulations will affect “All Entities” subject to Zakat. Hence, effective January 1, 2024, ZATCA has expanded the transfer pricing compliance requirements to include All Zakat Payers.

Stay informed about recent Ministerial Resolutions (No. 1007 and 947) that may impact your Zakat obligations. These resolutions offer Zakat payers the option to apply the new Zakat regulations (1445H) to previous years, providing potential benefits. It's important to note that the deadline to take advantage of these provisions is April 30, 2025.

The latest update is the Transfer Pricing Regulations will affect “All Entities” subject to Zakat. Hence, effective January 1, 2024, ZATCA has expanded the transfer pricing compliance requirements to include All Zakat Payers.

India and Saudi Arabia are uniquely positioned to collaborate and create a powerful start-up ecosystem due to their respective economic growth, demographic profiles, and strategic priorities. Both countries have firmly committed to fostering innovation and entrepreneurship, making them ideal partners in the global start-up landscape. Their convergence presents a unique opportunity for both countries to leverage each other’s strengths, foster innovation, and accelerate economic transformation.

The CII-Grant Thornton Bharat report, ‘Unlocking opportunities: India-Saudi Arabia start-up ecosystem convergence’, serves as a comprehensive guide, highlighting the recent collaboration between India and the Kingdom of Saudi Arabia in the start-up landscape. The report uncovers vast opportunities within the start-up ecosystem convergence and provides essential recommendations for investors, start-ups and policymakers to enhance and streamline this promising partnership.

Saudi Arabia (KSA) is undergoing a significant digital transformation across various sectors, and the accounting field is no exception. As technology advances, KSA's Chief Financial Officers (CFOs) have immense opportunities to harness digital tools and streamline financial processes. This article explores the digital transformation in KSA, the impact on accounting practices, and how CFOs can leverage technology to enhance economic efficiency and effectiveness.

In an increasingly interconnected global economy, Saudi businesses are expanding beyond domestic borders, engaging in cross-border transactions to seize growth opportunities. While the benefits of international expansion are undeniable, such ventures also introduce complex tax implications. Properly optimising tax structures for cross-border transactions can help Saudi companies minimise tax liabilities and ensure compliance, ultimately enhancing profitability and competitiveness. This article explores critical tax strategies, opportunities, and risks for Saudi businesses engaged in cross-border transactions.

In an increasingly interconnected global economy, Saudi businesses are engaging in cross-border activities more than ever. While the expansion opportunities are vast, they have significant challenges, particularly in taxation. Managing cross-border taxation requires navigating a maze of regulatory frameworks, compliance requirements, and initiatives like the Base Erosion and Profit Shifting (BEPS) project. This article explores the complexities of cross-border taxation for Saudi businesses and provides strategic insights for overcoming these challenges.

Transfer pricing has become a critical concern for multinational corporations (MNCs) operating in an increasingly interconnected global economy. In the Middle East, particularly in Saudi Arabia, recent reforms to transfer pricing rules have significantly reshaped the regulatory landscape, with far-reaching implications for MNCs. As the Kingdom pushes forward with its Vision 2030 goals, fostering a more transparent and competitive business environment, it is positioning itself at the forefront of global tax regulation, including transfer pricing.

In recent years, Saudi Arabia has embarked on a transformative journey to diversify its economy and reduce its reliance on oil revenue. Tax reform initiatives that seek to modernise the country's fiscal framework are central to this economic overhaul. These initiatives affect businesses operating within the Kingdom and individuals and investors both domestically and internationally. This article delves into the recent and proposed changes in Saudi Arabia's tax laws, exploring their implications for various stakeholders.

As Saudi Arabia continues to diversify its economy and reduce its dependency on oil revenues, the nation is implementing significant changes in its taxation policies. This article delves into the recent and proposed changes in Saudi Arabia's taxation framework and analyses their impact on businesses and individuals, highlighting the implications for the broader economic environment.