On 15 June 2020, Saudi Arabia's General Authority for Zakat and Tax (GAZT) published an English language version of Circular Number 2005003, which was issued on 31 May 2020. The Circular concerns income tax on capital gains from restructuring events and covers:
- Taxation of capital gains arising out of the disposal of shares or assets by a resident taxpayer, including:
- the exemptions for shares traded on the Saudi stock market and other markets; and
- the Article 10 exemption for stock divide…