Zakat and Tax Advisory Services
The Meras team includes members with prior experience at the Zakat, Tax and Customs Authority (ZATCA) in reviewing zakat and tax returns and objections, as well as experience with settlement committees and dealing with tax committees.
Compliance with the regulations and rules issued by the Zakat, Tax and Customs Authority (ZATCA) is one of the most critical considerations that an entity must take into account. Violating these regulations and rules may expose the company to significant financial consequences and penalties that could impact its business operations, consequences that could have otherwise been avoided. Furthermore, these regulations and rules must be monitored continuously, along with any updates thereto, to ensure ongoing compliance.
Moreover, the most sound and optimal approach is to plan and study the company’s overall zakat and tax position in a manner that contributes to reducing the financial burdens resulting from administrative decisions that are unsuitable for the company’s situation.
With regard to objecting to zakat and tax assessments before the Authority or tax committees, such objections must be submitted within a specified period. They also require the objector to possess deep expertise in tax regulations and rules, the procedural rules of tax committees, previous committee decisions related to the same matter, and other relevant regulations and manuals, as well as the ability to interconnect them.
The key services provided include the following:
- Filing Zakat returns, Income Tax returns, and Withholding Tax returns.
- Zakat and tax planning for the company.
- Providing advisory services on zakat objections before ZATCA or before tax committees.
- Providing advisory services on income tax objections before ZATCA or before tax committees.
- Providing advisory services on appeals against rejection notices and the reassessment of zakat and tax returns before tax committees.
- Submitting a settlement request to ZATCA and representing the taxpayer before the Settlement Committee.
- Providing advisory services on zakat and tax due diligence for companies prior to investment or acquisition transactions.
- Providing other advisory services (such as zakat advice on foreign investments, taxation of foreign branches and permanent establishments, studying contracts and the associated tax and zakat risks, tax implications of mergers and acquisitions, etc.).