Riyadh – Saudi Arabia’s newly formed Zakat, Tax, and Customs Authority will boost security and enhance the business environment while facilitating trade and procedures for Zakat, taxes, and customs transactions, Minister of Finance Mohamed Al Jadaan said on Wednesday.
The merger of the Zakat and customs entities will raise the integration level between the two sides and develop a unified platform that is based on modern technologies to save time and cost for customers, Al Jadaan added.
This will therefore endorse the Kingdom’s economic competitiveness and attract foreign investments.
The Saudi Cabinet has approved on 4 May merging the General Authority of Zakat and Tax and the General Authority of Customs into one authority.
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