Zakat & Tax
Zakat & Tax
Regulatory. Accuracy. Clarity.
At Standard Chartered Middle East Audit & Assurance, our Zakat, Tax, and VAT services turn compliance into opportunity and complexity into clarity..
Zakat and tax codes are among the laws that achieve social justice. As such, it is important for enterprises to understand the implications of their transactions from both a tax and Zakat perspective. Although the application of the Zakat codes is relatively easier in comparison to that of the tax codes, enterprises ought to be cautious with the enforcement of the relative code.
We provide advisory services on the application of the Zakat and Tax codes to enterprises to take advantage of the favorable treatments and incentives related to their activities. We also provide recommendations on resolving complicated issues and disputes.
Our services also include providing advisory support on Value Added Tax (VAT), which is an indirect tax imposed on most goods and services purchased and sold by enterprises. VAT is applied at each stage of the supply chain, from production and distribution to the final sale, with certain exceptions.
Our support includes:
Strategic Tax & Zakat Planning
We offer tailored guidance on Zakat and corporate tax matters, helping businesses interpret and apply both local and regional regulations. Our services include Zakat calculation, compliance support, and strategic planning to ensure regulatory alignment and operational efficiency.
Transaction Advisory
We provide in-depth guidance on the tax and Zakat implications of complex transactions and day-to-day operational matters. We help ensure that each transaction is structured to comply with local Zakat and tax laws while optimizing financial and operational outcomes.
Compliance Services
We support clients with the end-to-end preparation and submission of Zakat and tax returns, ensuring accuracy, timeliness, and compliance with local regulations. Our services extend to the preparation and filing of withholding tax returns, as well as comprehensive VAT documentation to support accurate VAT reporting, maximize recoverability, and meet compliance standards.
Zakat Optimization & Eligibility Reviews
We help clients assess their Zakat obligations based on the nature of their business, financial structure, and applicable regulatory guidelines. Our services include reviewing the classification of assets and liabilities, identifying eligible exemptions and deductions, and aligning treatment with sector-specific requirements. This approach helps minimize compliance risks, avoid overpayment, and ensure full alignment with evolving Zakat regulations.
Our team brings deep local expertise and a strong understanding of the regulatory landscape in Saudi Arabia, including the latest directives from the Zakat, Tax and Customs Authority (ZATCA) and the increasing emphasis on transparency and compliance. We work closely with clients to reduce internal compliance burdens, ensure alignment with national priorities, and build trust with both regulators and stakeholders.