Saudi Arabia: Transfer pricing regulations finalized - KPMG United States
close
Share with your friends

Saudi Arabia: Transfer pricing regulations finalized, accompanying FAQs released

Saudi Arabia: Transfer pricing regulations finalized

The General Authority of Zakat and Tax (GAZT) in the Kingdom of Saudi Arabia on 15 February 2019 released final transfer pricing regulations (or bylaws) as well as a set of “frequently asked questions” (FAQs).

1000

Related content

A draft version of the transfer pricing regulations was released for public consultation in December 2018.

Among the measures in the final version of the transfer pricing regulations are items concerning:

  • The effective date of the bylaws and rules for transfer pricing documentation (e.g., transfer pricing documentation requirements applicable for the reporting year ending 31 December 2018; GAZT may seek transfer pricing documentation for transactions undertaken during the years prior to 2018; taxpayers allowed 30 days for submitting the requested documentation to GAZT)
  • Disclosure form for controlled transactions (e.g., requiring detailed information about all controlled transactions)
  • Rules for determining related persons or parties and effective control
  • Applicability of the transfer pricing regulations on all taxable persons including Gulf Cooperation Council (GCC) entities, permanent establishments, and branches of foreign companies
  • Rules for transfer pricing documentation and timelines (generally in line with the requirements under the OECD base erosion and profit shifting (BEPS) Action 13 for country-by-country reporting, Master file, and Local file documentation)

 

Read a February 2019 report [PDF 209 KB] prepared by the KPMG member firm in Saudi Arabia

KPMG webinar

The KPMG member firm in Saudi Arabia is providing two webinar events concerning the final transfer pricing regulations on Monday, 25 February 2019.

 

Register for the first webinar and the second webinar

© 2019 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

Request for proposal