Tax services

Saudi Arabia

www.keypoint.com

The Keypoint Group was founded in 2006 and has added value with professional, business advisory services across the GCC for the last 12 years. Our clients range from large corporations and financial and insurance institutions to family-managed conglomerates and single owner businesses.

The office of Ali bin Ahmed Almohammedali for zakat and tax is a member firm of the Keypoint Group, offering a full range of tax and zakat services, including the preparation and certification of tax, zakat and withholding tax returns; VAT compliance and advisory; the online filing of returns; Saudi and international tax and zakat advisory; transfer pricing advice, the translation of books and records into Arabic; and dealing with Saudi tax authority (GAZT) queries, assessments, objections and appeals.

Tax and zakat in Saudi Arabia is an increasingly complex business issue. You need the right advisors giving you the right advice. Our team - with their varied experience and credentials; our approach - based on our deep VAT, Saudi tax, zakat and international tax experience; and our desire to add you to our growing roster of clients combine to make us the right choice.

We understand the business environment in the Kingdom of Saudi Arabia. Your priorities, your expectations and your risk appetite are key drivers of our approach and of our work products. Working to the highest ethical standards, we focus on delivering quality in everything we do.

We are a Saudi business with an international perspective. As a client, you have full access to key decision makers across the Keypoint Group, including Wajdi Al Jallad, the group’s managing director; Ali Almohammedali, licensed by the Saudi Organization for Certified Public Accountants (SOCPA) for tax and zakat services; and Mubeen Khadir (the head of tax for the Keypoint Group). Our service delivery is second-to-none, with unmatched flexibility and a fundamental belief in the power of mutually-beneficial relationships.

We add value to our clients by offering insight, solving problems and supporting success. We have a deep understanding of the challenges and complications of doing business in Saudi Arabia; strong relationships with GAZT and other regulatory bodies; deep tax knowledge; extensive VAT and Saudi tax and zakat credentials; and an unrivalled determination to be the Saudi tax and zakat advisor of choice to businesses like yours across the Kingdom of Saudi Arabia.

We look forward to working with you!

Our compliance and advisory services

Tax compliance Tax advisory

Zakat and tax return filings Finalising of assessments

Zakat and tax certificates Objections and appeals

Tax return certification New regulations issued by GAZT

Withholding tax (WHT) returns Tax, zakat, WHT and VAT issues

Quarterly accelerated tax filings Tax due diligence

Contract information formsInternational tax issues (including double tax treaties and transfer pricing)

VAT returns VAT advisory

As a Saudi business with an international perspective, we are well-placed to advise clients on a wide range of tax and zakat issues, including:

Compliance offerings

Over the last 18 months, the tax universe in Saudi Arabia has undergone fundamental change, with the introduction of VAT, upgrades to zakat procedures and the introduction of new transfer pricing requirements. All companies doing business in Saudi Arabia need to ensure they are - and remain - compliant with new and increasingly complicated taxation legislation.Our compliance offerings include:

Zakat and tax returns

� Assist with preparing and reviewing tax and zakat returns

� Translate tax and zakat returns and supporting schedules into Arabic

� Compare information on schedules with financial statements

� Submit tax and zakat returns online to the General Authority for Zakat and Tax (GAZT) on clients’ behalf

� Assist with completing controlled transaction disclosure forms for transfer pricing purposes

Zakat certificates

� Assist with obtaining zakat certificates

Certification

� Holder of the SOCPA licence certifies tax return

Accelerated tax returns (quarterly)

� Advise on accelerated tax filing requirements � Review computation of advance tax payable according

to income tax regulations � Prepare and submit letters (in Arabic) to GAZT on

clients’ behalf (if required)Monthly/annual withholding tax (WHT) returns

� Assist with preparing and reviewing WHT returns - based on information provided - on payments to non-resident parties

� Translate returns into Arabic � Submit returns online on clients’ behalf to GAZT

VAT returns

� Prepare and review VAT returns and computations � Assist with online filing of the VAT return with the

GAZT on clients’ behalf (if required)

Contract information forms (CIFs)

� Advise on categories of contracts to include in CIFs � Review prepared forms for adequacy of information � Translate forms into Arabic � Submit forms on clients’ behalf to GAZT

Advisory offerings

Assessments

� Attend GAZT field inspections � Discuss and clarify queries with GAZT � Translate any queries into English � Review and assess the impact of any queries � Discuss impact with clients and request additional

information � Translate information provided by clients into Arabic to

submit to GAZT on clients’ behalf � Follow up with GAZT to obtain final assessments � Review final assessments and advise on acceptance or

appeal

With the increase in Saudi tax and zakat complexity comes a need for tax advisory services. Our team of seasoned Saudi and international tax experts - with deep credentials over sectors from oil & gas and family businesses to financial services and retail - have the expertise and the contacts clients need to efficiently and effectively do business in Saudi Arabia. Our advisory services include:

International tax issues

� Review the application of the provisions of double tax treaties to confirm application

� Apply for WHT refunds or exemptions � Advise on international tax issues - including double

tax treaties

Tax due diligence

� Review past tax filings to identify tax risks prior to a sale, acquisition or listing

� Analyse tax treatments for consistency with Saudi tax regulations and general practice

Zakat and tax queries

� Provide tax advisory on specific zakat and tax queries

Objections and appeals

� Discuss the contents of appeals with senior management

� Prepare and submit objections and appeals letter on clients’ behalf (providing a copy in English)

� Follow up with GAZT committees � Prepare for – and attend – hearings

Translations

� Translation of books and records into Arabic as prescribed under Saudi tax and VAT laws and regulations

VAT queries

� Advise on VAT issues � Perform VAT health checks and optimise VAT positions

Transfer pricing

� Advise on compliance with the new Saudi transfer pricing regulations

� Master files � Local files � Country-by-country (CbC) reporting

Our credentials

Members of Keypoint’s tax team have worked in – and with - a number of different tax regimes, including Saudi Arabia, the UK, the European Union, Australia, New Zealand, Malaysia, South Africa, India, Pakistan, Sri Lanka and the other countries of the GCC. We also have strong relationships with a number of subject matter experts with deep Saudi tax credentials. Organisations our team have advised on Saudi tax issues - including VAT advisory and VAT compliance, zakat, transfer pricing and international tax - include:

Organisation

Leading family group in Saudi Arabia with real estate, distribution, retail and other entities

Leading family group in Saudi Arabia with real estate, distribution, retail, IT and other entities

Large Jeddah-based diversified family group with a range of operations including manufacturing and property

Leading Saudi-based listed supplier and distributor of milk and dairy products

Leading conventional retail bank in Bahrain with operations in several GCC countries

Leading Indian-headquartered heavy engineering company focused on the oil & gas sector with pan-GCC operations

Saudi Arabian-headquartered insurance business offering conventional and takaful services across the GCC

Multifaceted family group based in Saudi Arabia with operations across industrial sectors

Listed medical services provider with operations across Saudi Arabia

Oil-field service group based in Saudi Arabia

Listed Saudi retail bank headquartered in Riyadh with global operations

Leading listed Saudi paper manufacturer

Joint venture servicing the oil & gas industry in Saudi Arabia

Leading conventional wholesale and retail bank based in Bahrain with operations across the GCC

UAE-based information management solutions company with operations across the GCC

Organisation

Indian-owned hypermarket and retail chain with extensive operations in Saudi Arabia and across the GCC

Saudi Arabia-based subsidiary of a leading European aviation group

High-profile privately-owned Saudi-based petrochemicals business producing a range of products

Saudi branch of a leading Japanese integrated trading and investment conglomerate focused on the oil & gas sector

Jubail-headquartered refining joint venture focused on exports

Long-established Saudi family business based in the Eastern Province with operations across the GCC and Middle East

Leading retail, hospitality and healthcare business with operations across the Middle East, India and Africa

Saudi branch of a leading French-based engineering, procurement and construction business focused on oil & gas

Mega-producer of electricity and desalinated water located in the Eastern Province

Saudi branch of a leading Japanese conglomerate with automotive, steel, glass and chemicals interests

Saudi branch of a leading Japanese multinational focused on the power and industrial sectors

Saudi branch of a leading international organisation providing educational opportunities and cultural relations

Saudi branch of a leading multinational contact food service company headquartered in the UK

Saudi branch of a leading global provider of integrated IT solutions and state-of-the-art diagnostic imaging solutions

Leading Al Khobar hotel group offering a range of rooms and other services

Our credentials

Senior team members

Wajdi Al JalladManaging DirectorKeypoint Groupwajdi.aljallad@keypoint.com

Mubeen KhadirSenior Director | Head of TaxKeypoint Groupmubeen.khadir@keypoint.com

� Extensively involved in all of Keypoint’s services � Responsible for setting up and implementing Keypoint’s

strategies and operations and for assuring the quality of its services to clients

� ‘Big 4’ experience � Business focus includes advising clients on establishing

business vehicles and ongoing compliance with business regulations

� Fosters close relationships with Keypoint’s clients � Has a deep understanding of differing corporate cultures

and needs

� Corporate and tax lawyer with over 15 years of experience of advising clients in the Middle East and Australia

� ‘Big 4’ and top tier legal firm experience � Key areas of tax expertise include tax structuring and

due diligence, Saudi and Bahrain tax, international tax, transfer pricing, tax disputes, VAT and Islamic finance

� Has managed over 500 VAT and Saudi tax engagements across the GCC over the last 10 years

� Saudi tax clients range from large family groups with diverse operations to multinationals, large financials institutions and oil & gas businesses

Naveed JeddySenior tax partnerSRCO Consultants Bahrainnaveed.jeddy@bh.srco.ca

� Chartered accountant with more than 35 years of tax consulting and compliance experience

� Previously a senior tax partner - including head of tax & zakat services - with a leading professional services firm offering tax advisory to clients in Saudi Arabia and Bahrain

� Deep oil & gas expertise, having worked as regional tax manager for Schlumberger Oilfield Services in the UAE, UK, France, Egypt and Oman

� Recognised as a leading regional expert on Saudi and GCC tax

As a provider of professional services to a wide range of businesses across all of Saudi Arabia’s many industrial sectors, we recognise the need to work closely with other trusted advisors. SRCO is a fast-growing, emerging public accounting and consulting firm with international operations in Canada, the US, the Kingdom of Saudi Arabia and the Kingdom of Bahrain.

Ali AlmohammedaliDirector ali.almohammedali@keypoint.com

� Saudi national with over 15 years experience working in audit and tax in a Big 4 firm

� Previously KSA finance director of a family group, a leading multinational engineering company and a leading multinational insurance business

� Key areas of expertise include finance, Saudi tax and zakat - including dealing with the GAZT on appeals and objections

� SOCPA holder � US CPA � MBA in Accounting from JWU in USA � Fluent in Arabic and English

Raman OhriSenior Manager | TaxKeypoint Group raman.ohri@keypoint.com

� Chartered tax advisor (CTA (UK)) with significant experience of advising clients on direct, indirect and international tax

� ‘Big 4’ and top tier tax experience in the UK and GCC � Managed over 100 tax and VAT engagements across the

GCC over the last two years � Deep sector expertise includes oil & gas, water & power,

manufacturing, retail, property investment, construction and leisure

� ACCA(UK) qualified � Fluent in English, Hindi and Urdu

Omar HishamManager | TaxKeypoint Groupomar.hisham@keypoint.com

� VAT technical expert � ACCA (UK) qualified � Has managed more than 100 VAT implementation

engagements in Malaysia and across the GCC � Particular focus on the financial services – including

Islamic finance and takaful - logistics, manufacturing, retail and oil & gas sectors

� Extensive customs experience � Tri-lingual - English, Malay and Chinese

Adil FowziManager | TaxKeypoint Groupadil.fowzi@keypoint.com

� Over 13 years of experience in accounting, external and internal auditing, special assignments and taxation - including Saudi tax and zakat compliance and advisory

� Recent focus on tax and zakat compliance across industries including oil & gas, power & utilities, property and investments, retail, finance (including Islamic finance) and hotels and leisure

� ‘Big 4’ background - as well as Saudi industry � Member of the Institute of Chartered Accountants

of Sri Lanka (ACA) and the Association of Certified Management Accountants of Sri Lanka (ACMA)

Senior team members

Team members

Abdulla Al ZayaniAssistant Consultant | TaxKeypoint Groupabdulla.alzayani@keypoint.com

� Offers VAT advisory to a range of Bahraini and GCC businesses, including leading family businesses, financial institutions, distribution companies, automotive businesses, investment businesses, hotels and marketing conglomerates

� Bilingual - Arabic and English � MSc in Banking and International Finance - University of

Leeds (UK) � BSc in Economics and Finance - University of Leeds (UK)

Zainab MearajAssistant Manager | TaxKeypoint Groupzainab.mearaj@keypoint.com

� VAT SME for the financial services sector, having worked on VAT implementations across the GCC

� Has also worked on VAT implementations for some of the GCC’s leading family groups

� Before joining Keypoint, worked in industry in accounting, reporting and internal control and with a range of professional services firms

� Fluent in English and Arabic � BA in Employment Relations, Organisational Studies and

Education from the University of Auckland (New Zealand) � Certified management accountant (CMA) � CFA level 1

Naveed RashidSenior Consultant | TaxKeypoint Groupnaveed.rashid@keypoint.com

� Subject matter expert (SME) on taxation - including VAT - for the telecoms sector

� Has worked as a tax manager in industry, advising local and international tax clients on a range of different matters including tax advisory on onshore and offshore taxation models, personal taxation, corporate and indirect taxation

� Big 4 background - including advising international business groups in Saudi Arabia on tax planning and implementation

Mohamed IsaConsultant | TaxKeypoint Groupmohamed.isa@keypoint.com

� Provides VAT implementation and compliance advisory to a range of different economic sectors including family groups, healthcare providers, telecommunications and financial services (including a global insurance firm)

� Reviews VAT contracts and checks VAT invoices � Reviews and reconciles VAT returns, reviews supporting

calculations and samples transactions and related documentation to assess compliance

� Graduate of Loughborough (MSc in International Management and a BSc in Banking & Finance)

� Bi-lingual - Arabic and English

Our location

Level 11 | Al Fardan TowerPrince Turki bin Abdulaziz StreetAl KhobarKingdom of Saudi Arabia

Key contacts

Ali AlmohammedaliDirector

Office of Ali Almohammedaliali.almohammedali@keypoint.com

+966 54 541 8183

Wajdi Al JalladManaging Director

Keypoint Groupwajdi.aljallad@keypoint.com

+973 17206880

Mubeen KhadirSenior Director | Head of Tax

Keypoint Groupmubeen.khadir@keypoint.com

+973 17206879

www.keypoint.com