Services · Global solutions
Services in Saudi Arabia
Accounting, tax and compliance for companies operating in the Kingdom, from US subsidiaries to local businesses, with every return reviewed by a partner before it is filed.
One set of books, two audiences
A business in Saudi Arabia answers to the Zakat, Tax and Customs Authority (ZATCA) for zakat, income tax, VAT and withholding tax, and its invoices must meet ZATCA's e-invoicing rules. A subsidiary of a US company has a second audience: a parent that needs the same results in its own format and on its own timetable.
We keep the books, prepare the returns and produce the reporting both audiences need, from the same reconciled records. A partner reviews every deliverable, and nothing is filed until you have approved it.
What we cover
Each element can be taken on its own or as part of a monthly service.
Bookkeeping and accounting
Transactions posted, bank accounts reconciled and the books closed each month in your accounting software, under IFRS as endorsed in Saudi Arabia.
VAT
Registration, periodic VAT returns, and the reconciliations behind them, prepared from the ledger rather than from invoice totals, with input tax checked before it is claimed.
Zakat and income tax
Annual returns that apply zakat to the share of the business owned by Saudi or GCC shareholders and corporate income tax to the share owned by foreign shareholders, calculated from the same accounts.
Withholding tax
Withholding tax on payments to non-residents, such as payments for services, royalties and dividends paid to a parent abroad, with the returns and certificates ZATCA requires.
E-invoicing (FATOORA)
A review of your invoicing system against ZATCA's e-invoicing requirements, and support with integration when your business is called into its implementation wave.
Payroll accounting
Payroll journals, GOSI social insurance reconciliations and end-of-service benefit accruals, working with your payroll provider or in-house team.
Financial statements and audit support
Annual IFRS financial statements and the schedules your auditor needs, through to signing. The audit itself is carried out by an auditor licensed in Saudi Arabia.
Reporting to a US parent
Monthly reporting packages in your parent's format, US GAAP adjustments where they are needed, and intercompany reconciliations, so the group closes on time.
Who it's for
Companies in the Kingdom that want local compliance and group reporting handled by one team.
- US companies with a subsidiary or branch in Saudi Arabia
- Saudi businesses that want reliable books and returns filed on time
- Groups adding a Saudi entity to an existing structure (see corporate tax)
- Companies preparing for an audit, a financing round or a sale (see audit support)
How it works
The same four steps as every engagement, starting with a conversation.
A conversation
A 30-minute call with a partner about your entity, its registrations and the reporting you need.
A review
We look at your registrations, recent returns, ledger and invoicing system to size the work and any clean-up.
A written proposal
Scope, timetable and terms in writing, within three business days of the review.
Onboarding
Access arranged, opening balances reconciled, and one month run in parallel before we take over.
At a glance
- Authority
- ZATCA, for zakat, income tax, VAT, withholding tax and e-invoicing
- Frameworks
- IFRS as endorsed in Saudi Arabia, with US GAAP reporting for US parents
- Software
- QuickBooks Online, Xero or Zoho Books; ERP support for Odoo and SAP Business One
- Your data
- Documents exchanged through an encrypted client portal; access limited to your team
Also in the Gulf: our services in the United Arab Emirates and Bahrain.
Questions
Does a US-owned company pay zakat or income tax?
Usually corporate income tax, on the share of profits attributable to its foreign owners. Where a company also has Saudi or GCC shareholders, zakat applies to their share, so both calculations are needed. We prepare both from the same accounts.
Who files our returns with ZATCA?
Returns are submitted through ZATCA's portal under your company's own registration, once you have approved them. We prepare and reconcile each return, keep the working papers, and help you answer any questions ZATCA raises.
Can you audit our financial statements?
No. The audit must be carried out by an auditor licensed in Saudi Arabia, and the firm that keeps a company's books should not also audit them. We prepare the financial statements and schedules and work with your auditor through to signing.
What do you need from us to start?
Your registration details, recent returns and financial statements, access to your accounting software and bank feeds, and a contact for your ZATCA account. We also verify the identity of the company and its beneficial owners before work begins.
Speak with a partner
Every enquiry is read by a partner and answered within one business day. Meetings are held at our offices, at yours, or by video.