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Zakat and Tax

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The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Globalisation and company growth ambitions are driving an increase in transactions activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer-term strategic goals.
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We have designed and developed growth services to support your business at each phase of its growth. So whether you are an SME that has just set up or a large business wishing to expand, at Grant Thornton we will help you unlock your potential for growth.

Related insights:

Blog The Role of Tax in Driving Saudi Arabia’s Non-Oil Economy: Unlocking Opportunities in Emerging Sectors

In recent years, the Kingdom of Saudi Arabia (KSA) has embarked on a transformative journey to diversify its economy, reducing its dependence on oil revenues. With Vision 2030 as a guiding framework, the nation actively explores opportunities across various non-oil sectors, such as technology, tourism, and logistics. Tax policies and incentives are central to this ambitious agenda, and they are increasingly seen as pivotal tools for stimulating growth and attracting investment in these emerging sectors. This article examines how the Kingdom's tax landscape is evolving to support its non-oil economy and unlock opportunities for domestic and foreign investors.

| 4 min read | 08 Nov 2024

Assurance

We have the scope, depth, and global reach to serve businesses who are positioned to thrive in Saudi Arabia. Our team provide you with assurance services that...

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We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.

Zakat and Tax

Our experienced tax team not only support core compliance but are at the leading edge of transformation and operational resilience in respect of the tax...

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Energy & natural resources

Energy & resources

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Financial services

Optimism is slowly returning to the global economy, but the financial services industry needs to regain the trust of public and private bodies. To succeed,...

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Consumer products

Emerging markets and shifting consumer demand are creating new opportunities in consumer products, with business leaders investing in new products, markets and...

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Dynamic businesses need to move with speed and purpose if they want to capitalise on opportunities in travel, tourism & leisure. At Grant Thornton, we know...

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Healthcare

Demographic, organisational and resourcing issues are radically changing the global healthcare industry. Worldwide, we have a long and varied list of clients,...

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We work with all types of agencies, including central and state government, local government, donors (including bilateral and multilateral international...

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Real estate & construction

While the impact of the prolonged downturn continues to be felt, pockets of opportunity and optimism have emerged within the retail estate and construction...

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Technology, media & telecommunications

Rapid change and complexity are norms, and innovation the fuel in the technology industry. Today’s revolutions – including cloud, as-a-service, social media...

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IFRS

Insights into IFRS 16

27 Feb 2019

In January 2016, the International Accounting Standards Board (IASB) issued IFRS 16 ‘Leasing’, which represents the first major overhaul in lease accounting for over 30 years.

The Standard brings fundamental changes to lease accounting that replace previous accounting that is considered no longer fit for purpose. These changes become effective from 1 January 2019.

IFRS 16 will affect most companies involved in leasing that report under International Financial reporting Standards (IFRS). It will have a substantial impact on the financial statements of lessees of property and high value equipment – requiring that leases be placed on-balance sheet by recognising a ‘right-of-use’ asset and a lease liability.

Our Insights into IFRS 16 series summaries key areas of the Standard and aims to assist you in preparing for the changes that you will need to make.

Also appears under...

IFRS

Insights into IFRS 16

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Insights into IFRS 16

Understanding the discount rate

Interim periods

Definition of a lease

Lease term

Transition choices

Sale and leaseback accounting

Lease payments

Are you ready?

Sale and leaseback accounting