Prominent Tax Advisory Firms in Saudi Arabia

The dramatic transformation of the business environment, increasing labor costs, evolving tax regulations, and technological advancement over the past decade have created an atmosphere of uncertainty for businesses. Above all, the strict guidelines from ZATCA and the fear of hefty penalties put high pressure on leaders and teams. Even the most seasoned business executives look for a helping hand from qualified experts. Apart from all the pressing issues, accounting experts also facilitate accelerating foreign investment possibilities, optimizing tax positions, and opening the emerging doors of possibilities. For this reason, we have listed down some of the leading accounting and tax advisory firms in KSA so you don’t have to. But before that lets understand why hiring an accounting firm is essential in Saudi Arabia.

Why Hire a Tax Accounting Firm in KSA?

With the introduction of VAT, Corporate tax, excise tax, and the confusion between Zakat and Corporate tax compliance, it’s hard to sort out your taxes and financial intricacies all alone. Accounting firms don’t just fill out the forms; they do more than that to alleviate your burdens. These firms offer significant benefits, including:

• ZATCA has strengthened the audits with strict penalties and monitoring of digital compliance. Accounting firms not just maintain compliance but also represent tax authorities in case of any audit.
• Multinational investors specifically face the challenges of transfer pricing regulation, risks associated with PE, and the calculation of double taxation treaties. All these can be professionally fixed by accounting firms.
• Accounting tasks can be highly time-consuming, and with extra support, they free up some time to focus on other priorities.
• Tax consultants know the best ways to lower your tax liabilities by adjusting available credit and incorporating deductions. This results in cost saving which business might neglect on their own
• They help the companies in avoiding costly mistakes, which are the result of audits, fines, and payments. These compliance hurdles not just damage finances but also business credibility.

Top 5 Tax Advisory Firms in Saudi Arabia

1.    SS&CO (Sidra Salman & Co.)

SS&CO is a regional-based accounting, tax, and advisory firm that has gained huge prominence over a short span of time. Not just in KSA, they also have offices around the GCC, Pakistan, and the UK. The main aim behind SS&CO was to develop a modern, technology-driven company targeting SMEs, Startups and even large enterprises that are looking for international-level expertise with well-trained professionals. SS&CO is highly trusted for its Taxation, ERP implementation, and CFO services, making it a top choice for growing businesses. The key services offered by SS&CO include:

• Zakat and Corporate tax compliance and advisory
• Registration, calculation, and timely filing of VAT
• Complete support in ZATCA audits and dispute handling
• Health Checks for tax and compliance reviews
• Guidance and compliance related to E-invoicing (FATOORA
• Payment management services aligned with legal laws

Why Clients Prefer SS&CO?

Clients mainly go for SS&CO because of their strong grip on the local and regional market. They also offer flexible models that are customized according to the demands of all business requirements and challenges. Their team of experts thoroughly understands their clients’ necessities and offers them plans that fit their purpose perfectly. Moreover, they have the most advanced technological tools that facilitate businesses, even smaller ones, to automate their routine tasks and integrate with ERP and cloud accounting platforms. SS&CO serves a wide range of industries, including retail, e-commerce, manufacturing, technology startups, health care, and hospitality. With years of local market expertise, sector diversity, and economical packages, it is one of the first choices of many businesses in Saudi Arabia.

2.    Deloitte Saudi Arabia

Deloitte is known as one of the Big Four professional accounting firms with a remarkable and long-established presence in KSA. This firm mainly works for government entities, multinational companies, and financial institutions. Because of Deloitte’s global scale, reputable services, and professional approach, it is known for supervising large-scale transformation projects and multiplex taxation services across both the public and private sectors in KSA. Major services provided by Deloitte include:

• Zakat and Corporate Income Tax Advisory Services
• Cross-border structuring and international tax guidance
• Compliance with transfer pricing policies and BEPS compliance
• Merger and Acquisition tax advisory and analysis
• Technology implementation and automation of routine operations

Why Clients Prefer Deloitte?

Deloitte’s most of the clients are mostly mega projects, or government-linked entities that demand perfection in every step. Their international expertise and global resources, along with robust technologies and a strong relationship with legal bodies, make Deloitte a consolidated accounting service package.

3.    PwC Saudi Arabia

Another Big Four operating in Saudi Arabia is PricewaterhouseCoopers, which has a major market presence in Saudi Arabia. PwC offers combined solutions for tax, legal, advisory, and consulting services for businesses dealing with multi-layered legal structures. PwC exclusively works with the bigger companies like multinational businesses, family groups, and high-growth companies in Saudi Arabia. Their core tax and advisory specialties include:

• Taxation planning and advisory solutions
• Transfer pricing and global tax services
• Management of risk associated with tax and governance
• Guidance in merger and acquisition tax services
• Management of disputes and tax controversies

Why do Clients prefer PwC?

PwC is known for its coordinated and seamless model of services. Having strong international structuring expertise gives an added advantage. They are one of the top picks of regulators and investors because of their worldwide credibility.

4.    KPMG Saudi Arabia

KPMG is a recognized leader for its audit and tax compliance capabilities, along with its risk and governance advisory support. KPMG is trusted by clients with both local and international compliance requirements. Their major areas of service include:

• Compliance with all the applicable taxes
• Risk assessment, management, and control
• Development of tax governance policies
• Tax audits and interaction with legal authorities

Why do clients prefer KPMG?

They are prominently picked up by businesses that emphasize strong internal controls, governance policies, and regulatory needs. Due to their compliance-driven approach, global technical depth, and contemporary risk management frameworks, they are the first choice of elite enterprises.

5.    Grant Thornton Saudi Arabia

Grant Thornton works in Saudi Arabia through its member firm and delivers audit, tax, and advisory services. They mostly target privately held companies and mid-market businesses. They are primarily acknowledged for supporting growth-oriented businesses and family-owned companies. Their core tax and advisory offerings are:

• Complete Saudi Tax Advisory
• International Tax structuring
• Professional counselling on business restructuring
• Reporting and management of tax compliance
• Entrepreneur and family business tax advisory

Why Clients Prefer Grand Thornton?

Clients favor them because of their flexible service model that prioritizes clients’ requirements. With their practical and business-oriented approach, they are popular among the mid-market companies that are looking for strong partner involvement and mentorship

Factors to Consider when Choosing a Tax Accounting Firm

One wrong choice can lead you to damaging consequences. Therefore, when you are looking for an accounting firm for your business, it is essential to consider the following factors:

• Look for their previous record and how they handle complex tax-related concerns
• Review their range of services they have to offer you, including tax support and advisory services
• Look for a well-reputed, credible firm so you can get reliable and effective services
• They must provide round-the-clock dedicated support through specialized teams
• Analyze their fee structure, check if they fit your budgets but at the same time don’t compromise on quality over money.
• Reliable firms should take the time to understand your needs and offer custom services crafted according to your needs

SS&CO is one of the first choices for many businesses, and it is often even preferred over top market players because of its competitive level of expertise, but with flexible services and pricing models. Get in touch today!