Saudi Arabia’s tax authority, the General Authority for Zakat & Tax (GAZT) has released a circular on VAT for real estate transferred as part of a going concern. The circular restates a number of points raised in its transfer of a business guidelines, but includes some information specifically for real estate transfers. A transfer of assets constituting an economic activity – a transfer of a going concern (TOGC) – is out of scope for VAT if certain criteria – listed in both the circular and the transfer of a business guidelines – are met. Our Saudi tax team has summarised the most relevant clarifications in our new alert. To discuss any of the issues raised in this alert, please contact a member of our market-leading tax team.