Agraam, 15 February 2025: The Saudi Finance Ministry has approved the latest executive regulations for Zakat collection, aimed at streamlining the process across various business sectors.

The comprehensive 128-article regulations provide detailed guidance on Zakat procedures, addressing challenges faced by those required to pay.

These regulations includes all aspects of Zakat collection, including rules established through independent ministerial decisions.

They cover the calculation of Zakat for taxpayers, financing activities, and investors in investment funds.

Additionally, exemptions are outlined for properties owned by endowments, charitable organisations, and training units.

Significant updates include the introduction of a minimum Zakat base and a cap to protect taxpayers from escalating costs.

These regulations will apply to fiscal years beginning 1 January 2024, with declarations due in 2025, following the specified conditions and guidelines.

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