GTL Summary:

Ministerial Resolution No. 1535 of 2004 constitutes the Executive Bylaws for the KSA Income Tax Law. These bylaws provide detailed regulations essential for the law's implementation. The provided articles, specifically Article 2, define the scope of 'Taxable Activity'. This term encompasses a broad range of for-profit activities, including commercial, industrial, agricultural, service-related, and professional operations, as well as investments and leasing. The bylaws clarify that for a resident natural person, merely opening bank accounts or trading in shares listed on the Kingdom's Stock Market is not considered a taxable activity.

Document Type: ERS - Executive Regulations
Law: Income Tax Law (Royal Decree No M/1 - 21 Feb 2004)
Decision Number: executive-regulations-1535-article-2
Year: 2019
Country: 🇸🇦 KSA
Official Name: Article 2 - Taxable Activity
Last updated at: 2026-01-05 08:39:39 UTC

Article 2 - Taxable Activity

The term "Taxable Activity" refers to all forms of activities, regardless of their type, such as commercial, industrial, agricultural, service-related, banking, insurance, investments of all types; transport operations; leasing of tangible and intangible, movable and immovable property. It also includes professional, vocational or artisanal activity, or any other similar activity that is for profit.

Taxable activity does not include [merely]^[3] opening bank accounts of any type (current, savings or term deposits), and trading in shares of companies listed in the Kingdom's Stock Market by a resident natural person.

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