Responsibilities of Sales and Development Entities Registered with the Zakat, Tax, and Customs Authority, whether individuals or companies:
| No: 747280000067 | Date(g): 3/11/2018 | Date(h): 24/2/1440 | Status: In-Force |
Translated Document
Effective from Aug 01 2019 - Jul 31 2019
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| 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. | ||