Saudi Arabia's General Authority of Zakat and Tax (GAZT) has released for public comment draft Zakat regulations that will replace the current regulations in place since 2017. The main drafted amendments include, inter alia:
- The scope of the regulations will be broadened to cover permanent establishments of non-resident Saudi persons in cases where the headquarter criteria is applicable to such permanent establishments;
- Outstanding liabilities for a period exceeding 354 days will be subjec…