The Real Estate Tax Affidavit is a crucial document required in Saudi Arabia following the implementation of the Real Estate Transaction Tax (RETT) in October 2020, which replaced the previous VAT system for real estate transactions. This affidavit must be submitted to the Zakat, Tax and Customs Authority (ZATCA) for any real estate transaction where RETT applies. The document serves as an official declaration of the transaction details, property information, and tax obligations, ensuring transparency and compliance with Saudi tax regulations. It is particularly important as it helps prevent tax evasion, ensures proper value declaration, and maintains accurate records of real estate transactions in the Kingdom. The affidavit must be completed truthfully and accurately, as false declarations can result in significant penalties under Saudi law.
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1. Declarant Information: Full legal name, national ID/Iqama number, contact details, and capacity of the person making the affidavit
2. Property Details: Comprehensive description of the property including address, title deed number, plot number, and property type
3. Transaction Information: Details of the real estate transaction including sale price, date of transaction, and type of transaction
4. Tax Declaration: Specific declarations regarding the Real Estate Transaction Tax (RETT) amount, calculation basis, and payment responsibility
5. Prior Ownership Declaration: Statement about previous ownership period and any relevant tax implications
6. Verification of Information: Declaration confirming the accuracy and truthfulness of all provided information
7. Signature Block: Space for declarant's signature, date, and official stamp if applicable
1. Additional Party Declaration: Required when multiple parties are involved in the transaction or when declaring on behalf of a company/organization
2. Tax Exemption Claims: Include when claiming any applicable exemptions under Saudi tax laws
3. Source of Funds Declaration: Required for high-value transactions or when compliance with anti-money laundering regulations is specifically needed
4. Previous Transaction History: Include when the property has had multiple transactions within a short period
5. Foreign Ownership Declaration: Required when the transaction involves non-Saudi nationals or foreign companies
1. Property Documentation: Copies of title deed, property plans, and relevant registration documents
2. Transaction Evidence: Copies of sale agreement, payment proof, and other transaction-related documents
3. Identity Documentation: Copies of ID documents, power of attorney (if applicable), and company registration (for corporate entities)
4. Tax Calculation Sheet: Detailed breakdown of the tax calculation including any adjustments or exemptions
5. Supporting Declarations: Any additional sworn statements or third-party confirmations required to support the main affidavit
Relevant legal definitions
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Relevant Industries
Real Estate
Banking & Finance
Legal Services
Construction
Property Development
Government & Public Sector
Tax Advisory
Corporate Services
Investment & Asset Management
Urban Development
Relevant Teams
Legal
Finance
Tax
Compliance
Real Estate
Risk Management
Corporate Affairs
Investment
Property Management
Treasury
Relevant Roles
Tax Manager
Real Estate Manager
Legal Counsel
Compliance Officer
Property Administrator
Finance Director
Real Estate Transaction Specialist
Tax Consultant
Corporate Lawyer
Property Development Manager
Asset Manager
Real Estate Investment Analyst
Chief Financial Officer
Risk Management Officer
Real Estate Portfolio Manager
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