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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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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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IFRS
At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting.
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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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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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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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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

Interim consolidated financial statements 2020

28 Nov 2019

The member firms within Grant Thornton International Ltd (GTIL) have extensive expertise in the application of IFRS. GTIL, through its IFRS team, develops guidance that supports its member firms’ commitment to high quality, consistent application of IFRS and is pleased to share these insights by publishing ‘Example Interim Consolidated Financial Statements 2020'.

The Interim Financial Statements [ 291 kb ] illustrate a six month accounting period beginning on 1 January 2020. They are based on the activities and results of Illustrative Corporation Ltd and its subsidiaries (the Group) – a fictional consulting, service and retail entity that has been preparing IFRS financial statements for several years. The Group produces half-yearly interim financial reports in accordance with IAS 34 ‘Interim Financial Reporting’ at 30 June 2020.

Download IFRS Example Interim Consolidated Financial Statements 2020 [ 291 kb ]

The Interim Financial Statements have been reviewed and updated to reflect changes in IAS 34 and in other IFRS that are effective for the year ending 31 December 2020.

To discuss your financial statements or any challenges you have implementing IFRS please contact our Grant Thornton team.

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IFRS

Interim consolidated financial statements 2020

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