As part of an increased openness to international investment and the resulting need to address international tax issues, the Kingdom of Saudi Arabia (KSA) recently adopted transfer pricing regulations consistent with global norms. Due to the newness of these regulations in the KSA tax system and...

In this Part 3, we explore the KSA’s historic approach to penalties and the motivation to develop transfer pricing-specific penalties. For sake of illustration, we will review the IRS reasons for enactment of transfer pricing-specific penalties, the substance of those penalties, and the IRS...

This study analyzed the scope of imposing income taxes on the income generated from the local and foreign operations of capital companies located in the Kingdom of Saudi Arabia (KSA), and the challenges accompanying the new amendment to the tax laws and their possible improvements. It proposed...

The modernization of the Saudi arbitration environment is more in line with modern international norms of commercial arbitration rules, embodying several “arbitration friendly” principles of the UNCITRAL Model Law, such as competence-competence and the autonomy of the arbitrating parties....

Arbitrating parties expect that the arbitration process will result in final and binding awards. The Kingdom signed the New York Convention in 1994 to reassure foreign investors to invest in the country. Despite such acceding to a stated convention, Saudi Arabia has been described as hostile...

The new Saudi Arbitration Law provides the arbitrating parties the freedom to rely on procedural rules of their choosing, as long as they do not conflict with the principles of Islamic Sharia. This liberty and autonomy for the parties are similar to the UNCITRAL Model Law as will be presented in...

Since the genders are significantly different, laws should reflect the differences between women and men in the workplace. Most societies strive to protect the safety of their citizens by allowing them to organize their affairs in compliance with adaptable and predictable laws. Nevertheless,...

In this article, Altawyan overviews the tax rules for Islamic finance to help lawmakers and policymakers in the United States and other countries develop laws or guidance on sharia-compliant financial activities and transactions

This study analyzed the scope of imposing income taxes on the income generated from the local and foreign operations of capital companies located in the Kingdom of Saudi Arabia (KSA) and the challenges accompanying the new amendment to the tax laws and their possible improvements. The amendment...