• Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
Saudi Business News
Tuesday, May 27
09:47
35 °c
Riyadh
No Result
View All Result
Saudi Business News
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
No Result
View All Result
Saudi Business News
No Result
View All Result

HomeBusinessSaudi Arabia’s Real Estate Transaction Tax

Saudi Arabia’s Real Estate Transaction Tax

New 5% tax to boost economic diversification and growth

April 10, 2025
in Business, Economy, Events, Finance, Investment, NEOM, PIF, Projects, Qiddiya, Real Estate, Technology, The Line, Vision 2030
Reading Time: 1 min read
152
SHARES
1.9k
VIEWS
Share on FacebookShare on XShare on LinkedInShare on Telegram

Saudi Arabia has launched a 5 percent Real Estate Transaction Tax (RETT) starting April 10, aimed at supporting economic diversification. This new tax is applicable to all property transactions, including residential, commercial, and industrial, regardless of their development status or ownership type. It also covers undocumented transactions.

Property transfers must be registered via the RETT platform on the Zakat, Tax and Customs Authority’s (ZATCA) website. Participants must declare property details and any exemptions before finalizing the transfer with a notary.

RelatedPosts

Saudi Arabia’s Hydrogen Economy: Leading the Clean Energy Shift

Saudi Arabia’s Fiscal Stability Amid Low Oil Prices

Private Aviation Expansion in Saudi Arabia: New Charter Rules

This initiative is part of Saudi Arabia’s strategy to boost the real estate market, anticipating significant growth by 2025. A report by JLL notes strong economic progress in the Gulf, with Saudi Arabia at the forefront. The non-oil sector is predicted to expand by 5.8 percent in 2025, increasing from 4.5 percent in 2024. The construction sector showed robust performance in 2024 with $29.5 billion in project awards. The real estate market is expected to reach $101.62 billion by 2029, growing annually by 8 percent from 2024.

ZATCA emphasizes that the RETT regulation aims to provide a clear legal framework to stimulate the real estate sector, attract investment, and enhance tax exemptions for various goals. It also seeks to tackle industry-specific challenges.

The regulations clarify taxable property transactions, establish tax calculation and payment procedures, and include measures for verifying fair market value. The penalty for late tax payments has been reduced from 5 percent to 2 percent. Exemptions are granted for property transfers due to inheritance, registered endowments, and transfers between spouses or close relatives.

Tags: economic diversificationproperty marketReal Estate Taxsaudi arabiaZATCA
Share61Tweet38Share11Share

© 2025 Copyright, Saudi Business News

No Result
View All Result
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line

© 2025 Copyright, Saudi Business News

Go to mobile version