RETT relief on the purchase of replacement real estate for expropriated real estate
Gain detailed insights into Saudi Arabia's Real Estate Transaction Tax (RETT) and the Government's initiatives to ease financial burdens through exemptions and relief measures. Our comprehensive brochure explains current regulations, expected future changes, and efforts aligned with Vision 2030. Consult with tax advisors to navigate RETT complexities and determine your eligibility for exemptions.
The Kingdom of Saudi Arabia introduced the Real Estate Transaction Tax (RETT) to cover most property transactions while providing exemptions for compulsory expropriation. Landowners often face additional costs when purchasing replacement properties due to RETT. To address this, the State Properties General Authority (SPGA) is drafting regulations to ease this burden by covering RETT on replacement properties purchased within six years of compensation. Although these regulations are not yet official, the Government offers case-by-case relief, notably for the Diriyah Gate Project.
To help you navigate these developments, we have prepared a detailed brochure on RETT relief. This brochure explains current relief measures and anticipated future regulations in line with Saudi Arabia's Vision 2030 initiatives. The Government's proactive efforts aim to reduce financial burdens, enabling affected parties to secure suitable replacement properties more easily. Understanding these regulations can be complex, so consulting tax advisors is essential for analyzing RETT exemptions and determining relief eligibility.
