Assignment 1

Assignment 1 (include 3 Questions)

Question: 1

Explain the following in your own words:

1. What do you mean by tax system in KSA? Is tax system is good or bad? Support your answer
2. Under the Tax Law, who are the person or artificial person subject to the tax in Saudi Arabia?
3. How many types of tax systems are prevailing in the KSA?
4. The Tax Law provides that income from the following specific types of activities/sources is considered taxable in KSA:

Question-2-What do you mean by Zakat, in your opinion what are the certain updates on the Tax and Zakat regulations in kingdom of Saudi Arabia?   

Question 3

Nowadays Saudi Government is focusing the taxation revenue. “Saudi Arabian government imposing different types of taxes on commodities, services as well as residency”

Support your answer to the above case study and differentiate between selective commodities tax and value added tax   in your own words. Compare the VAT with past and present