Article 37
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Government entities, public institutions, companies, associations, private institutions, charitable private institutions, public benefit private institutions, and sole proprietorships, as per the provisions of Article 13 of the Law, are required to notify the Authority about the following contracts:

1. Contracts made with non-residents who do not have a permanent establishment in the state, regardless of their value.

2. Contracts made with residents, or non-residents who have a permanent establishment in the state, if the contract value is at least (200,000) two hundred thousand Riyals for service contracts, and (500,000) five hundred thousand Riyals for construction and supply services.

The notification mentioned in clause (1) of this Article should be done using a form prepared by the Authority, which includes data on the contracting parties, the nature of the contracted work, the duration of the contract, its value, and the country of residence of the contracting party. The Authority, in all cases, may request a copy of the contract if deemed necessary.

[The Authority has the right to obtain information and documents for the purpose of conducting a tax audit or exchanging them with competent authorities in other countries, according to tax treaties and agreements related to administrative assistance and exchange of information for tax purposes.

The Authority can obtain information and documents from any person in the state who possesses or controls them, even if there is a legal obligation on this person to maintain the confidentiality of the information. Information is considered to be under the control of a person if they have the legal right, authority, or capability to obtain the information or documents in possession of another person.

It is not required for the Authority to meet any of the following conditions to obtain the information and documents to be exchanged with the competent authorities in other countries:

1. The Authority does not need to need the information for its own tax purposes.

2. It is not necessary that a tax audit be conducted on the taxpayer who possesses or controls the information, or who is concerned with that information.

3. The acts for which information is sought do not have to be criminal in the state, and the competent authority has the right to obtain the information for the purpose of exchanging it with competent authorities in other countries for all tax matters, including criminal tax matters.]^[G20]

[Companies and other corporate entities that have their principal office or actual management in the state must, if requested, provide the Authority with information that identifies their legal owners and beneficial owners, including information about persons for whom the legal owners act as agents or under any similar arrangement, and information about persons in any intermediate entities between the company or other corporate entity concerned and the beneficial owner.

Companies established according to state laws or that operate within it must provide the Authority, upon request, with information that identifies their partners and beneficial owners.

Trusts established according to state laws or managed in the state or whose trustee or agent resides in the state must provide the competent authority, upon request, with information about the beneficial owners including the identity of the settlor or founder, trustee or agent, protector or enforcer (if any), all beneficiaries or classes of beneficiaries, and any other natural person exercising effective control over the trust.

Non-profit organizations must provide the competent authority with information identifying the founders, board members, beneficiaries (if any), any beneficial owners, or persons who have the authority to represent it.

The information provided by legal entities and arrangements about the identity of their legal owners and beneficial owners must be sufficient, accurate, and up-to-date.

Legal entities and arrangements are required to maintain reliable accounting records in accordance with the accounting standards approved in the state, and to provide the relevant accounting information to the competent authority upon request.

The accounting records must accurately reflect all transactions, determine the financial position of the entity or legal arrangement with sufficient precision at any time, and allow for the preparation of financial statements.

The accounting records must include essential documents such as invoices and contracts, and must detail all amounts received or paid, the purposes related to them, all sales and purchases, other transactions, and the assets and liabilities of the entity or legal arrangement.

Financial institutions must provide the competent authority, upon request, with information about the financial accounts they hold for all account holders.

Financial information includes all records related to financial accounts, as well as related transactions, including information about the legal owners of the accounts and their beneficiaries.

Notifications specified in this Article must be made within (30) thirty days from the date of the Authority's request or from the date of concluding the contract or agreement, as applicable. The Authority may extend this period for another similar period if necessary.

The Authority may enter into agreements with ministries, government agencies, and public institutions to provide it automatically or periodically with records, information, and data it deems necessary.]^[G21]