False real estate information may draw SR50,000 fine

False real estate information may draw SR50,000 fine

RIYADH — The Zakat, Tax and Customs Authority has proposed a new regulation to impose maximum fines amounting to SR50,000 for providing false information about real estate transactions. The authority has invited public comments about the draft Article 15, Paragraph 3 of the “Classification of Violations and Penalties for Real Estate Transaction Tax” Law through the Istitlaa public survey platform during the period between September 3 and October…