Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

Saudi Arabia: Updated real estate transaction tax law

The Zakat, Tax, and Customs Authority (ZATCA) will be issuing the implementing regulations.

Share
October 16, 2024

An updated real estate transaction tax (RETT) law, under Ministerial Resolution No. 84 (dated September 22, 2024), will become effective 180 days from its October 11, 2024, date of publication in the official gazette.

The Zakat, Tax, and Customs Authority (ZATCA) will be issuing the updated RETT implementing regulations.

The updated law includes changes related to:

  • Undocumented transactions
  • Definition of real estate company (Article 1)
  • Responsibility for payment of RETT (Article 7)
  • RETT exemption (Article 3)
  • Time limit for assessment by ZATCA (Article 8)
  • Change in penalty provision (Article 15)

For more information, contact a KPMG tax professional:

Philippe Stephanny | philippestephanny@kpmg.com

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline