06 December 2016 Saudi Arabia's CPA organization amends its accounting standard on zakat The Saudi Organization for Certified Public Accountants (the SOCPA) has amended its accounting standard on zakat to bring it in line with the International Financial Reporting Standards (IFRS). The amendment is part of the IFRS implementation process in Saudi Arabia. The amended standard will be applicable for fiscal years beginning on or after January 1, 2017. A Tax Alert prepared by Ernst & Young Saudi Arabia, and attached below, provides additional details. Document ID: 2016-2063 |
