Accounting, Bookkeeping and Tax

Outsourcing your accounting and bookkeeping requirements is particularly smart in Saudi Arabia where the process and procedures for VAT registrations and quarterly returns can prove complicated to navigate. Saudi has a unique system of government portals in which majority of company requirements are processed through. We specialise in assisting with filing of VAT and tax requirements in Saudi Arabia through the General Authority Zakat & Tax (GAZT).

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To assist clients in navigating the requirements in Saudi Arabia we offer the following support:

Pre-incorporation Audited Financial Reporting (1 year audited accounts required for setup in KSA)
Monthly Bookkeeping
Management Accounts and Monthly Reporting Packages
Accounts Payable (A/P) processing services
Employee expense report processing services
Withholding tax reporting services – monthly and annual submissions
VAT Registration and Quarterly VAT Returns
Annual Audited Financial Report
Annual Corporate Tax Return
Annual Company Secretarial Services
Payroll & WPS

During the incorporation of a business in Saudi Arabia we can provide support with bank account opening for the company and staff, which forms an essential part of in-country invoicing, transactions and salary payments.

It is also important for companies to get proper tax advice before incorporation. We can connect you with our trusted 3^rd party partners in the Kingdom. Your tax requirements will play a vital role in your monthly bookkeeping and accounts procedures.

An overview of the taxes in Saudi Arabia

20% Corporate Tax
5-20% Withholding Tax (range based on service type)
15% VAT (SAR 300K Threshold)
2.5% ZAKAT
5% Real Estate Transaction Tax
50-100% Excise Tax (Specific items such as cigarettes etc.)
0-20% Customs Tax (Inter-GCC exemptions)
Transfer Pricing & E-Invoicing

Business set up in Dubai, Abu Dhabi, Oman, Bahrain, Qatar and Saudi Arabia

VAT Registration and Submission Services

In Saudi Arabia, businesses with annual revenue over SAR 375,000 must register for 15% VAT with ZATCA and file regular VAT returns. Voluntary registration is allowed above SAR 187,500. Companies must issue compliant e-invoices, keep records for six years, and follow ZATCA’s e-invoicing (Fatoorah) rules. Non-compliance may result in penalties.

Audit Requirements in Saudi Arabia

Foreign businesses operating in Saudi Arabia are required to maintain accurate financial records and undergo an annual audit conducted by a licensed Saudi auditor. These audited financial statements must comply with Saudi Accounting Standards or IFRS, depending on the entity type, and be submitted to the Zakat, Tax and Customs Authority (ZATCA) along with tax filings. Proper audit compliance is essential for license renewals, tax assessments, and maintaining good legal standing in the Kingdom.

Bookkeeping Services in Saudi Arabia

Our monthly Bookkeeping and Accounting services in Saudi Arabia encompass all recordings of transactions and invoices to ensure you remain compliant with regulations and delivery of reports in line with submission dates throughout the financial year. Including:

Recording sales invoices and credit notes
Recording all transactions in a KSA VAT compliant cloud-based accounting software
Matching, coding and recording purchase invoices and company expenses
Recording of all the receipts and payments in the bank statements
Reconciliation of bank accounts and general ledger heads
Processing accruals and prepayments
Maintaining fixed asset register and processing depreciation charges
Monitoring and managing accounts payable and receivables
Producing different reports as required by the client
Producing an accurate trial balance on a monthly basis

Benefits of outsourcing accounting function

Certified Accountants

ACCA, CPA, CIA, UAECA, and APFA certified client accountants

Reports & Submissions

Financial reporting, submission and employee expenses

Salary Processing

Payroll processing including overtime, commission and bonuses

Strict Regulations

Secure and timely VAT returns and tax filings

Why outsource your accounting and bookkeeping in KSA?

Minimise your internal cost and outsource your accounting, bookkeeping, tax and payroll requirements. Combined, our client accounting team have extensive regional knowledge and carry ACCA (Association of Chartered Certified Accountants), CPA (Certified Public Accountant), CIA (Certified Internal Auditor), UAECA (United Arab Emirates Chartered Accountant), and APFA (Associate Public Finance Accountant) certifications which demonstrates a significant understanding of accounting practices in the GCC and globally.

Our accounting and bookkeeping services understand the evolving regulations in the Kingdom. As an accounting firms in saudi arabia our direct contact with authorities allows us to notify clients about updates to regulation and process changes, reducing chance for errors.

If you require assistance with your accounting, bookkeeping and payroll for your business in Saudi Arabia, then please contact us on ksa@sovereigngroup.com or fill in the inline form and we would be delighted to assist you.