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Document Type: Tax Law Article
Law: Income Tax Law (Royal Decree No M/1 - 21 Feb 2004)
Article Number: 30
Country: 🇸đŸ‡Ļ KSA
Location: Chapter 7 - Additional Rules for Determining the Tax Base
Order: 30

Article 30 - Currency Conversion

Article 30 - Currency Conversion

Chapter 7 - Additional Rules for Determining the Tax Base

Article 30 - Currency Conversion

  1. Gross income and tax base shall be calculated in Saudi riyal.

  2. If calculation of income involves an amount in a currency other than the Saudi riyal, the amount shall be calculated for taxation purposes in Saudi riyal at the exchange rate declared by the Saudi Arabian Monetary Agency on the date of the transaction.