GAZT receives 163,000 property registration requests under new tax

General Authority of Zakat and Tax logo

The General Authority of Zakat and Tax (GAZT) said the number of property sales registration applications submitted through the real estate deal tax service reached 162,870 since its inception in the Kingdom.  

Riyadh came first among the cities with 47,860 applications, followed by Makkah (26,750), Eastern Province (21,520), and Qassim (11,480), the authority said in a statement. 

The authority added that the Asir region witnessed about 9,900 applications, Hail region (6,930), Madinah region (6,450), and Jizan region (3,250).

GAZT said the real estate transaction tax service is one of the e-services that enable taxpayers to register properties under the new tax before completing property transfers or contract documentations.

The service also helps taxpayers know the levy imposed on the properties planned for sale and allows issuing a payment bill with the tax due.

According to the data available on Argaam, King Salman recently issued a royal decree, exempting real estate from value added tax (VAT), and imposing a "real estate disposal tax" at a rate of 5%.