5% Saudi real estate tax a game-changer

Saudi Arabia's new Real Estate Transaction Tax (RETT) regime has taken effect, introducing a flat 5 per cent tax on most real estate transactions.

- BY MANOJ NAIR Business Editor

When it comes to individual investors, there are specific exemptions, according to Naveen Sharma, Chairman of the Tax tion Society.

■ Family-related transfers:

Transactions such as gifts between close relatives (up to the third degree), inheritance divisions, and spousal transfers are exempt from the 5% tax obliga tion.

■ First-time home buyers: