RIYADH, Nov. 13, (Xinhua) -- The General Authority of Zakat and Tax (GAZT) of Saudi Arabia hosted a conference on Zakat and Tax on Wednesday in the capital Riyadh, bringing together about 1,000 participants from international organizations, governments, businesses, civil society and academia.
The two-day conference focuses on the range of challenges and opportunities for tax policy and administration in a rapidly changing world and how Zakat interacts with corporate income tax and accounting standards.
The Zakat and Tax Conference tackles several topics including Zakat and its computation methodologies, reviewing income tax on companies, the application of VAT and Excise Tax inside the Saudi Arabia and other Gulf Arab states, employing new technologies to improve Zakat and tax compliance, and the business perspective on the digital economy.
Additionally, GAZT will also hold 16 workshops in collaboration with a number of government and private entities to discuss tax challenges of the digitalization of the economy.
