Reforms in Real Estate Taxation

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Saudi Arabia Royal Order No. A84/1442, issued on 01/10/2020, reformed the taxation framework for real estate transactions in Saudi Arabia. Previously subject to the general rules and conditions governing VAT, the Royal Order exempted real estate transactions from VAT, and enacted a new Real Estate Transaction Tax (RETT). The Royal Order also prompted two subsequent reforms: 1- The issuance of...
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