The Zakat, Tax and Customs Authority (ZATCA) has released endowment-owned zakat payer not subject to zakat rules, which define all laws and controls connected to endowment-owned zakat payer not subject to Zakat.
According to ZATCA, the rules apply to taxpayers subject to the Implementing Regulations for the Collection of Zakat who are wholly owned (directly or indirectly) by one or more endowments, provided that the endowment is established in the Kingdom and documented legally, in addition to meeting the rules' criteria.
The rules included a number of controls and provisions, the most notable of which is that the taxpayer submits a request not to be subject to Zakat on an annual basis using the form prepared by ZATCA and attaching the required documents, provided that the application is submitted within the statutory period specified in Article (17) of the Implementing Regulations for the Collection of Zakat.
ZATCA noted that the rules apply to the fiscal years beginning on and after January 1, 2023, and the rules may—upon the request of the taxpayer—be applied to the fiscal years in which the Implementing Regulations for the Collection of Zakat issued by Ministerial Resolution No. (2216) dated 7 Rajab 1440, and for which no final decision has been issued by ZATCA.
ZATCA invites taxpayers and interested parties to review the Rules of Endowment-owned Zakat Payer Not Subject to Zakat Collection available on its website (zatca.gov.sa), and to contact the Authority with any inquiries via its 24/7 call center hotline (19993), Customer Care Twitter account (@Zatca_Care ), via e-mail ( firstname.lastname@example.org ), or by instant messages on ZATCA's website (zatca.gov.sa).