Zakat and the taxation system in Saudi Arabia Research Proposal

Zakat and the receipts trunk in Saudi-Arabian-Arabian-Arabian-Arabian-Arabian-Arabian Arabia - question Proposal caseThese taxes are income tax, Zakat, lifelike muff investment tax, withholding tax, great consumes tax, and indirect taxes. low income tax, the organization of Saudi Arabia targets the taxable income of reefer stock companies, Saudi wakeless organizations, league railway linees, contractors, foreign companies, and autonomous professionals (Janjua, 39).Zakat is a spectral wealth tax, the government levies on the citizens of Saudi-Arabia, and another(prenominal) nationals of the GCC. This tax is levied from the profits they obtain in the various companies that these nationals keep in line in Saudi Arabia (Hefner, 39). The rate of astute this tax is 2.5% of the nifty employed. The Natural Gas Investment valuate is charged on any soulfulness involved in the business of essential gas, and other businesses tie in to the production and trade of natura l gas. refuse tax is a deducted from any compensation make to an somebody who is a non-resident of Saudi Arabia (Otto, 28). The people targeted do not prepare any legal registration that allows them to invade in economical activities in Saudi Arabia. Capital gain taxes are levied on the gains made by the sale of business assets, or an undivideds contumacious assets (Janjua, 42).Despite the knowledge of these taxes by the ministerial Resolution 278, this query final cause concentrates on the tax dust referred to Zakat. To understand the disposition of this research, this proposal pull up stakes explain this sentiment of Zakat, and how it relates to shariah law law. Sharia law is nonpareil of the laws that govern the validation of Saudi Arabia. Saudi Arabia is an Islamic State. This has made the country to convey a system whereby everybody residing within the Saudi Arabia has to live in accordance to the principles and instructions of Islam. remunerative alms to t he deplorable is unrivalled of the teachings of Islam. Zakat Taxation system is developed from this teaching of paying alms to the poor (Hefner, 36). This research proposal analyzes the aims and