course | Introduction to Zakat and Taxation

Taxation:
 

• Income v/s Taxable Income
• Income Tax
• Corporation Tax
• Value Added Tax
• Customs & Excise Duty
• Timing Difference & Deferred Tax
   

Working Capital Control:
 

• Inventory Control
• Accounts Receivable
• Accounts Payable
• Reconciliation of Sub-ledgers

International Taxation
 

• Overview of international tax principles
• Double taxation and tax treaties
• Challenges and solutions in global taxation

Ethical Considerations in Taxation
 

• Ethical issues in tax planning and compliance
• Corporate social responsibility in taxation
• Case studies on ethical dilemmas in taxation

Understanding the concept of Zakat:
 

• The concept, characteristics, and goals of Zakat
• Differences between Zakat and tax
• Adjusted net profit/loss
• Types of Zakat and Tax Declaration, and timing
• Zakat regulation

Income Tax Law:
 

• Income Tax Law
• Tax Filing and Compliance Procedures
• Fixed assets and depreciation
• Withholding Tax
• Tax Treaties

Practical approach to the KSA Direct taxation:
 

• Tax base and tax rates
• Determine the Zakat and Tax Base
• How to calculate the Zakat base
• Corporate Income tax and withholding taxes
• Territorial and Material scope of tax

Introduction to VAT:
 

• Meaning of VAT and its impact on the economy.
• How does VAT work, and its Scope and liability
• The new legislation
• VAT treatment and reporting
• VAT rates and the transitional VAT rules

Compliance and Registration Process:
 

• Understand the VAT registration process and prepare the required documents for VAT registration
• Deadlines for compliance
• Risks of non-compliance

Methods of Accounting for Zakat and Taxes:
 

• Accounting for Zakat.
• How to do accounting for Zakat Trade Offers (individual enterprises – companies)
• Work procedures relating to the interests of the Zakat and Income (filing the return, examination, link – objection – Appeal)
• The concept of properties and tax goals
• The difference between the tax and zakat (similarities and differences – a combination of both)

The difference between tax evasion and double taxation:
 

• The structure and properties of the tax system in Saudi Arabia
• Fines under the new tax system
• Tax accounting rules on the activity of the liberal professions and crafts
• Tax accounting rules for individual installations
• Case Study in Zakat, VAT, and Tax Declaration
• Case Study in Tax Evasion in Saudi Arabia