(In Arabic:التصرف العقاري) Any legal disposition that transfers the ownership of the property, or its possession for the purpose of owning it, or possession of its benefit, including without limiting the contracts that consist of transferring the beneficial rights or Long term lease rights, such as sale, compensation, donation, bequest, swap, lease, finance lease, and transfer of shares in real estate companies, or usufruct right determination for a period of more than 50 years.
(In Arabic: ضريبة التصرفات العقارية) An indirect tax imposed on all transactions under which a legal effect resulted in the form of transferring the right of ownership of the real estate or possession of it for the purpose of owning it, or the possession of its benefit from one person to another; transactions may be based on an agreement between the two parties such as selling or based on the independent freewill of the owner such as a devisor’s will.
(In Arabic: طلب الاسترداد) It is a request submitted by the taxpayer or his representative to Zakat, Tax, and Customs Authority requesting a refund of the tax paid in excess, or any other amounts paid in excess, in accordance with the terms and provisions mentioned in the laws, regulations, and bylaws issued by ZATCA.
(In Arabic: اشخاص مرتبطون) Two or more persons, where one of them has the authority to direct and supervise others so that he has administrative authority that enables him to influence the work of other people financially, economically, or organizationally, and that’s include persons under the authority for a third party which enables him to influence their work financially, economically, or organizationally.
(In Arabic: مقيم) A person shall be a resident of a country if the conditions of residency specified in each law apply to him; this includes natural persons who own a place of residence in Saudi Arabia and legal persons who have a head office of their business or a permanent establishment in Saudi Arabia.
(In Arabic: آلية الاحتساب العكسي) The mechanism by which the taxable customer is obligated to pay the tax due on behalf of the supplier, and he is also responsible for all the obligations provided for in the agreement (the Unified Agreement for VAT of the GCC) and the Saudi VAT Law and its applicable regulation.