Saudi Aramco GI 242.001 WITHHOLDING TAX, RETENTION, PAYMENTS AND REPORTS TO DZIT

This General Instruction Manual (GI 242.001) from Saudi Aramco provides comprehensive guidance on the company's obligations regarding withholding tax, retention of payments, and reporting to the Department of Zakat & Income Tax (DZIT) in Saudi Arabia. It details compliance requirements under the Saudi Arabian Income Tax Law of 2004 and its implementing regulations, covering procedures for remitting withheld taxes and submitting tax returns.

The document outlines protocols for reporting contract and payment information to DZIT, as well as the process for obtaining DZIT certificates and managing retained amounts from resident contractors and vendors. It serves as a critical reference for understanding tax treaty implications, departmental responsibilities in tax compliance, and the accounting treatment for withholding tax and retentions.

The manual includes detailed information on tax rates, holder obligations, exceptions to certification requirements, and reporting procedures. Ideal for tax accountants, finance managers, procurement specialists, and HSE compliance officers working in or with Saudi Aramco.