- In Saudi Arabia, there is no property tax.
Capital Gains Tax (CGT)
- There is no capital gains tax in Saudi Arabia.
- There is no inheritance tax in Saudi Arabia.
- There is no gift tax in Saudi Arabia.
Tax on Property Income
- Renters in Saudi Arabia are required to pay a tax on their rental income, known as Zakat. This tax is levied on all forms of income, including property rental income, and is calculated as a percentage of the individual’s total income.
Tax Advantages in Buying a House in Saudi Arabia
- Since there is no property tax, capital gains tax, inheritance tax, or gift tax in Saudi Arabia, buying a house in the country can be seen as a tax-free investment.
- Additionally, there is no restrictions on foreign ownership of property in Saudi Arabia, making it a popular choice for foreign investors.