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Document Type: Tax Law Article
Law: Income Tax Law (Royal Decree No M/1 - 21 Feb 2004)
Article Number: 29
Country: 🇸đŸ‡Ļ KSA
Location: Chapter 7 - Additional Rules for Determining the Tax Base
Order: 29

Article 29 - Valuation

Article 29 - Valuation

Chapter 7 - Additional Rules for Determining the Tax Base

Article 29 - Valuation

  1. If calculation of the tax base or gross income involves non-cash properties, services, or other benefits, their fair market value shall be calculated as of the date it was recorded in the books for taxation purposes.

  2. The market value of non-cash property transferred to an employee or any other service provider shall be determined without regard to any restrictions on transfer of ownership.