Minister of Finance Dr. Ibrahim Al-Assaf said that the kingdom's hosting of the fifth annual conference of the tax forum for the Middle East and North Africa is an opportunity to inform the world about the tax system and the Zakat collection, especially that the Kingdom is the only one in the world that is interested in collecting Zakat officially. In a press statement after opening today the conference in Riyadh, the minister highlighted the importance of the confrence's themes. He added that the tax system in the Kingdom is one of the best modern systems in the world, but the more important issue is the experience of the kingdom in the Zakat collection as the kingdom collects Zakat in trade items officially. On the FATCA system, the Minister of Finance said that the system belongs to the United States of America which announced its application early in the new calendar year, and that some countries are forging agreements with the United States for the application of this system.
