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Saudi Arabia’s business landscape is undergoing a profound transformation, driven in no small part by the increasing presence of women in leadership roles. Historically, cultural and societal norms have placed significant barriers in handling female participation in the workforce. However, through progressive reforms, evolving societal attitudes, and a surge in entrepreneurial ambition, Saudi women are now reshaping the Kingdom’s economic landscape. From corporate boardrooms to innovative startups, they challenge long-standing conventions and set new benchmarks for success.

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.

The Gulf Cooperation Council (GCC) region has long been a hub for trade, finance, and innovation. However, as global markets evolve and economic landscapes shift, businesses must rethink their expansion strategies to remain competitive. Saudi Arabia, the largest economy in the region, has emerged as a model for transformation and growth, offering valuable lessons for other GCC companies looking to expand strategically.

Saudi Arabia is rapidly emerging as a powerhouse in the global startup ecosystem, fostering innovation and entrepreneurship to build the next generation of billion-dollar companies. With a strategic vision, robust economic reforms, and increasing investment in technology and infrastructure, the Kingdom is positioning itself as a leading hub for startups aspiring to scale into unicorns.

This publication is designed to give preparers and reviewers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting Standards. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.

The new leases standard, IFRS 16, brings with it both greater transparency and a number of challenges for businesses. It requires companies to bring all operating leases on to the balance sheet for accounting periods starting on or after 1 January 2019, those still getting to grips with IFRS 16 need to act quickly to ensure compliance.

2022 saw profound changes in the world including Russia’s invasion of Ukraine, with its resulting energy crisis and the downgrade of global growth projections. I found myself increasingly proud of the collective resilience shown by Grant Thornton member firms, as they responded to these unique challenges while continuing to support their people and clients.

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.

With share-based payments becoming increasingly popular over the years with many entities, this article discusses the accounting for equity-settled share-based payment transactions with employees.

This article discusses the basic principles that apply to both equity-settled and cash-settled share-based payment transactions with employees or others providing similar services.

In April 2024, the International Accounting Standards Board (IASB) introduced IFRS 18: Presentation and Disclosure in Financial Statements, marking a significant shift from IAS 1. Effective for annual reporting periods starting 1 January 2027, IFRS 18 requires mandatory retrospective application, emphasising early preparation to ensure a seamless transition. We share below a high-level summary of the changes introduced, along with a detailed guide for your reference.

In recent years, the Kingdom of Saudi Arabia (KSA) has embarked on a transformative journey to diversify its economy, reducing its dependence on oil revenues. With Vision 2030 as a guiding framework, the nation actively explores opportunities across various non-oil sectors, such as technology, tourism, and logistics. Tax policies and incentives are central to this ambitious agenda, and they are increasingly seen as pivotal tools for stimulating growth and attracting investment in these emerging sectors. This article examines how the Kingdom's tax landscape is evolving to support its non-oil economy and unlock opportunities for domestic and foreign investors.

Saudi Arabia continues to attract global investors with its robust Vision 2030 reforms, economic diversification, and fast-evolving market dynamics. Mergers and acquisitions (M&A) in the Kingdom are expected to gain further momentum, driven by public and private sector initiatives, foreign direct investment, and liberalised regulations. However, successful transactions in Saudi Arabia require meticulous planning, especially regarding due diligence and transaction advisory.