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Responsibilities of Sales and Development Entities Registered with the Zakat, Tax, and Customs Authority, whether individuals or companies:
No: 74728/67
Date(g): 3/11/2018 | Date(h): 24/2/1440
Status: In-Force
Effective from Aug 01 2019 - Jul 31 2019 To view other versions open the versions tab on the right
1)
If the sale is made to a financing entity:
2.3.
The seller will receive the certificate from the financer and any additional tax amounts if the value of the residential unit exceeds 850,000 SAR. The seller will also obtain a commitment from the beneficiary through the financing entity, confirming that the certificate will not be presented to any other financing entity or developer. The seller will then issue a sales invoice for the full tax amount (certificate value + any additional tax amounts).
2.4.
The seller should submit a refund request through the portal, attaching the deed after the transfer of ownership and the sales invoice.
2.5.
The seller must record the full tax amount (certificate value + any additional tax amounts) for the sale in their tax declarations for the above-mentioned case.
2)
If the sale is made directly to the beneficiary:
2.1.
The seller will receive the certificate from the beneficiary and any additional tax amounts if the value of the residential unit exceeds 850,000 SAR. The beneficiary must also sign a commitment not to present the certificate to any other financing entity or developer. The seller will then issue a sales invoice for the full tax amount (certificate value + any additional tax amounts).
2.2.
The seller should submit a refund request through the portal, attaching the deed after the transfer of ownership and the sales invoice.
2.3.
The developer must record the full tax amount (certificate value + any additional tax amounts) for the sale in their tax declarations for the above-mentioned case.
