Dear Mr. Sarvanan.
As far as I can recollect the taxation requirements for an individual in Saudi Arabia are detailed below:
Personal Income Tax: There is no personal income tax in Saudi Arabia. However, individuals carrying on a business or a profession are taxed at 20%, which is the same rate as applicable for companies.
Capital Gains Tax: A 20% capital gains tax is applicable on disposal of shares in a resident company. However, capital gains on disposal of shares which are traded on the Saudi Stock Exchange are exempt provided the shares were purchased after 2004.
A brief summary of other taxes applicable on individuals
Capital Duty: Nil
Stamp Duty: Nil
Capital Acquisition Tax: Nil
Real Estate tax: Nil
Estate Duty: Nil
Net Wealth Tax: Zakat is levied on registered businesses of Saudis
Social Security: Saudi employees contribute 9% of salary to The General Organisation for Social Insurance (GOSI) and the employer also contributes a like amount.
Regards
Raju Bhatnagar