General Authority Of Zakat and Taxes

A development mission that combines legacy and modern technology

GAZT was established by its dedicated founders who worked hard to achieve a sustainable economy and a prosperous future. It all started by launching The Office of Zakat and Income in1355 AH which was upgraded after 15 years to the Department of Zakat and Income in1370 AH, then as a result of the economic renaissance in Saudi Arabia in1437 AH, the department was upgraded again to its current structure as GAZT “General Authority of Zakat and Tax.” GAZT had identified its future vision parameters through its key role in the sustainability of Saudi Arabia economy while aiming to be a global role model in terms of managing Zakat and taxes by using the most prominent management techniques and cutting-edge technologies. This vision had earned GAZT a local and international recognition represented by a collection of awards and quality certificates.. We are proud to walk this path of excellence, and we believe that the success story of our organization will not stop at one milestone, it is a continuous journey toward more achievements and toward inspiring a whole new generation to believe in future and make dreams come true..

Whereas, the jurisdictions of the signatories to the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (the “Agreement”) are Parties of, or territories covered by, the Convention on Mutual Administrative Assistance in Tax Matters or the Convention on Mutual Administrative Assistance in Tax Matters as amended by the Protocol amending the Convention on Mutual Administrative Assistance in Tax Matters (the “Convention”) or have signed or expressed their intention to sign the Convention and acknowledge that the Convention must be in force and in effect in relation
to them before the first exchange of financial account information takes place;
Whereas, the jurisdictions intend to improve international tax compliance by further building on their relationship with respect to mutual assistance in tax matters;
Whereas, the Common Reporting Standard was developed by the OECD, with G20 countries, to tackle tax avoidance and evasion and improve tax compliance;
Whereas, a country that has signed or expressed its intention to sign the Convention will only become a Jurisdiction as defined in Section 1 of this Agreement once it has become a Party to the Convention;
Whereas, the laws of the respective Jurisdictions require or are expected to require financial institutions to report information regarding certain accounts and follow related due diligence procedures, consistent with the scope of exchange contemplated by Section 2 of this Agreement and the reporting and due diligence procedures set out in the Common Reporting Standard;
Whereas, it is expected that the laws of the Jurisdictions would be amended from time to time to reflect updates to the Common Reporting Standard and once such changes are enacted by a Jurisdiction the definition of Common Reporting Standard would be