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Tax and Audit Support
Services in Saudi Arabia
Arab Dreams offers comprehensive tax and audit support services to ensure your business stays compliant and financially sound. Our solutions include financial, internal, and external audits, along with specialized services such as risk management, tax, stock, and liquidation audits. With expert guidance on VAT, Zakat, and corporate tax, we help businesses meet regulatory requirements while optimizing financial performance. Partnering with us ensures smooth audits, accurate financial reporting, and strategic tax planning, giving you the confidence to focus on growth.
The Vital Role of Tax and Audit Services
in
Saudi Arabia
Services Offered by Arab Dreams
Tax Services
Tax Preparation and Filing
• Preparation of income tax returns.
• VAT filings
• VAT filings
Tax Advisory Services
• Tax planning and strategy development.
• Advice on tax incentives and exemptions.
• Cross-border tax advisory.
• Advice on tax incentives and exemptions.
• Cross-border tax advisory.
Compliance Services
• Ensuring compliance with local tax laws and regulation.
• Preparing and filing required tax documentation.
• Preparing and filing required tax documentation.
Transfer Pricing Services
• Development of transfer pricing policies.
• Compliance documentation for related-party transactions
• Compliance documentation for related-party transactions
Audit Services
Financial Audit
• Evaluate financial statements for accuracy and compliance.
• Ensure compliance with local accounting standards and regulations.
• Conduct detailed testing of financial transactions and balances.
• Ensure compliance with local accounting standards and regulations.
• Conduct detailed testing of financial transactions and balances.
External Audit Services
• Assistance in preparing for external audits.
• Compilation of necessary documentation for auditors.
• Liaison with auditors during the audit process
• Compilation of necessary documentation for auditors.
• Liaison with auditors during the audit process
Internal Audit Services
• Conducting internal audits to assess financial operations.
• Identifying areas for improvement and risk management.
• Reporting findings and recommendations.
• Identifying areas for improvement and risk management.
• Reporting findings and recommendations.
Risk Management Audit
• Identify potential risks that could impact business operations.
• Evaluate the likelihood and impact of identified risks.
• Develop strategies to mitigate identified risks.
• Evaluate the likelihood and impact of identified risks.
• Develop strategies to mitigate identified risks.
Stock Audit
• Verify physical stock against recorded inventory.
• Assess the valuation of stock for financial reporting.
• Evaluate inventory management processes and controls.
• Assess the valuation of stock for financial reporting.
• Evaluate inventory management processes and controls.
Liquidation Audit
• Assess the value of assets during the liquidation process.
• Review and confirm outstanding liabilities.
• Prepare reports for stakeholders regarding the liquidation process.
• Review and confirm outstanding liabilities.
• Prepare reports for stakeholders regarding the liquidation process.
Why Partner with Arab Dreams for
Tax and Audit Support Services?
We Cover All Major Locations in KSA
Arab Dreams offers exceptional coverage across Saudi Arabia, ensuring that your business receives comprehensive tax and audit solutions in key locations such as Dammam, Riyadh, and Jeddah. Regardless of where you operate, you can rely on us for expert support tailored to your needs. Our presence extends throughout:
Tax and Audit Solutions in Jeddah
As your trusted partner in Jeddah, Arab Dreams offers innovative tax and audit solutions designed to meet your specific requirements. We provide reliable services that ensure compliance and optimize your tax position, empowering your business to thrive in the competitive market.
Tax and Audit Solutions in Riyadh
Arab Dreams delivers accessible and cost-effective tax and audit solutions in Riyadh, streamlining your compliance processes and enhancing transparency. Our expertise helps you navigate the complexities of the tax landscape, allowing you to focus on your core business activities with confidence.
Tax and Audit Solutions in Dammam
In Dammam, Arab Dreams has established itself as a leader in tax and audit services, providing businesses with thorough compliance assessments, tax planning, and audit support. Our team is dedicated to ensuring your operations align with Saudi regulations while maximizing financial efficiency.
Seamless tax and audit solutions with Arab Dreams
Reach out to our expert tax department today to enhance compliance, optimize your tax strategy, and drive your business growth
FAQ
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What Taxes Do Businesses Pay in Saudi Arabia?
1. Corporate Income Tax
• 20% tax on profits for foreign-owned businesses and joint ventures.
• Saudi-owned companies are generally subject to Zakat, a religious wealth tax.
2. Zakat
• 2.5% of the company’s net worth for Saudi-owned or GCC-owned businesses. It is managed by the Zakat, Tax, and Customs Authority (ZATCA).
3. Value-Added Tax (VAT)
• 15% VAT is applicable on goods and services. Businesses must register with ZATCA if their taxable revenue exceeds a certain threshold and file periodic VAT returns.
4. Withholding Tax
• Applied on payments to non-residents for services, royalties, or interests at rates ranging from 5% to 20%.
5. Social Security Contributions (GOSI)
• Employers must contribute 12% to the General Organization for Social Insurance (GOSI) for Saudi employees and 2% for expatriates.
6. Customs Duties
• Import duties vary depending on the product category, with specific exemptions under trade agreements. -
What tax services does Arab Dreams offer?
We provide comprehensive support, including corporate tax filings, VAT registration, compliance reporting, and tax advisory to help businesses stay aligned with Saudi regulations.
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Is auditing mandatory for all businesses in Saudi Arabia?
Yes, companies must comply with local auditing requirements to ensure transparency. We assist in conducting internal and statutory audits in line with Saudi standards.
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Can Arab Dreams help with VAT compliance?
Yes, we manage VAT registration, filing, and reporting, ensuring your business complies with the 15% VAT regulations in Saudi Arabia.
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How often should a business file tax returns in Saudi Arabia?
Corporate tax returns are generally filed annually, while VAT returns can be monthly or quarterly, depending on revenue. Our experts handle timely submissions to avoid penalties.
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Does Arab Dreams provide ZATCA support?
Yes, we assist with ZATCA (Zakat, Tax, and Customs Authority) compliance, including zakat declarations and electronic invoicing requirements.
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What industries does Arab Dreams specialize in for tax and audit services?
We serve a range of sectors, including trading, manufacturing, services, and logistics, tailoring tax strategies to fit industry-specific needs.
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Can Arab Dreams support businesses facing tax audits or disputes?
Absolutely. We represent clients during tax audits and assist in resolving disputes with ZATCA through professional advisory and negotiation services.
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How does Arab Dreams ensure smooth financial reporting?
Our team sets up accurate bookkeeping and accounting systems, ensuring compliance with local standards and facilitating easy audit processes.
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Do you provide payroll tax management services?
Yes, we assist businesses in managing payroll taxes, social security contributions (GOSI), and employee benefits to maintain compliance.
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Can small businesses benefit from your tax services?
Definitely. We offer scalable solutions suitable for small businesses, ensuring cost-effective compliance and advisory services.
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What is e-invoicing, and how can Arab Dreams assist?
E-invoicing is mandatory in Saudi Arabia. We provide end-to-end support in setting up compliant systems for electronic invoicing to meet ZATCA requirements.
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Can Arab Dreams help businesses claim VAT refunds?
Yes, we assist in identifying eligible VAT refunds and managing the application process efficiently.
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How does Arab Dreams handle tax planning?
Our experts analyze your business operations to develop tax strategies that optimize savings while ensuring full compliance with regulations.
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What happens if my company misses a tax deadline?
Missing deadlines can result in penalties. Our proactive approach ensures timely filing to avoid such risks.
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How do I get started with your tax and audit services?
Contact our team for a consultation. We’ll assess your needs and create a tailored plan to ensure your business stays compliant and optimized for success.