- Dammam | Riyadh
- +966 54 355 7088
At Erad, we understand that robust accounting and meticulous auditing are the bedrock of financial stability and growth for any business in Saudi Arabia. Our specialized team provides comprehensive accounting services designed to ensure compliance, enhance financial transparency, and provide strategic insights.
We partner with businesses across various sectors to navigate the complexities of financial regulations, offering tailored solutions that support informed decision-making and sustainable success.
Efficient and accurate bookkeeping is fundamental to understanding your business’s financial position and ensuring compliance. Erad offers flexible bookkeeping solutions tailored to your specific needs, allowing you to focus on your core operations while we manage your financial records with precision.
Our services include customized bookkeeping support where our experts integrate seamlessly with your team, handling specific accounting functions based on your requirements. We also offer full accounting services, entrusting your entire accounting function to Erad, from daily transaction recording to ledger maintenance and reconciliation, ensuring comprehensive and accurate financial data.
A well-structured accounting system is vital for operational efficiency and reliable financial reporting. Erad assists businesses in establishing robust accounting frameworks, ensuring best practices from the outset. We help develop and implement clear, compliant accounting policies and procedures that standardize your financial operations and enhance internal controls. Additionally, we provide expert guidance on hiring qualified accounting personnel and offer tailored on-job training to ensure your team is proficient in best practices and system utilization.
Erad also offers an Accounting Health Check, a comprehensive review of your existing accounting systems and processes to identify inefficiencies, ensure compliance, and recommend improvements for optimal performance.
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The Value Added Tax (VAT) in Saudi Arabia is set at 15%, making it one of the most significant tax obligations for businesses in the Kingdom. VAT applies to most goods and services, with some exemptions for essential items. The exact VAT calculation depends on your business type, transaction nature, and whether you’re importing, manufacturing, or providing services.
Our team assists businesses in understanding their VAT liability, registering with the tax authority when required, and implementing proper invoicing and documentation systems to ensure accurate VAT compliance and enable smooth tax refund processing when applicable.
Saudi withholding tax is a critical compliance requirement where taxes are deducted from payments at the source before disbursement. This typically applies to professional services, rental income, and specific transaction types. The withholding tax rate varies depending on the type of payment and contractual arrangement, often ranging from 5-20%. Businesses must accurately calculate, report, and remit these taxes to the Saudi tax authority within specified timeframes. Non-compliance can result in penalties and interest charges.
We provide comprehensive withholding tax management, including accurate calculations, timely reporting, and audit support to ensure you meet all Saudi Arabia withholding tax obligations.
Tax refunds in Saudi Arabia typically occur when VAT paid on purchases exceeds VAT collected on sales, or when overpayment occurs due to various circumstances. The refund process involves submitting detailed documentation, supporting invoices, and compliance certifications to the tax authority. Processing times vary but generally range from 3-6 months depending on case complexity and authority workload.
We handle the entire tax refund process, including documentation preparation, application submission, and follow-up with tax authorities. Our expertise in Saudi Arabia’s tax refund procedures and relationships with local authorities help accelerate processing and increase approval rates for eligible claims.
