Doubts about salary net value

jcjr
Member

Posts: 10

Doubts about salary net value Jun 6, 2013 16:43:21 GMT

Quote

Post by jcjr on Jun 6, 2013 16:43:21 GMT

o ALL,

I got an offer letter and I am on BI and Medical now.

Please, can you guys help me on payment net value?

if I open an account in a Saudi Bank and give this account number for HR will I get the same Net payment value that I got on my offer letter? or are there some Saudi tax or further discount?

I am on UK payroll and the offer was in Sterling Pound, so will this money be credited in my Saudi Bank account in sterling or will it be automatically converted to SAR? can I choose a mixed between that?

I know if I send this money back to my country (Brazil) I will have to manage taxes with Brazil government, but if I let it in Saudi I believe it will keep untouched by any tax, am I correct?

by the way, someone from Brazil around?

tonio1818
Newbie

Posts: 2

Doubts about salary net value Jun 7, 2013 6:55:34 GMT

Quote

Post by tonio1818 on Jun 7, 2013 6:55:34 GMT

I have the same question.

In order to do not pay taxes in your original country, it is necessary open a bank account in a Saudi Bank?

If I ask to be paid directly in my account (currently I live in Italy) should I pay taxes on it in Italy?

Thank you

GroveWanderer
Members

Posts: 731

Doubts about salary net value Jun 7, 2013 9:24:31 GMT

Quote

Post by GroveWanderer on Jun 7, 2013 9:24:31 GMT

There are (to the best of my knowledge) no UK sterling accounts available at local banks. So any money paid into a local account will be deposited in Saudi riyals, converted at the prevailing rate.

As mentioned, there is no income tax in Saudi Arabia at the moment. Whether you would have to pay tax back in Brazil would depend on Brazilian tax laws which I am not familiar with. However, a quick Google search turned up the following info which implies that you can become non-resident for tax purposes by filing a declaration to that effect. You might like to confirm that with a competent financial adviser or with the Brazilian tax authorities before leaving (assuming you are still resident there at the moment).

Foreigners living in Brazil and Brazilians living abroad but who are still considered tax resident in Brazil are required to make the annual declaration of income and submit the same documents as Brazilian citizens and foreign residents.

The Brazilian or foreign resident who leave Brazil are required to file a Declaration of Final Departure [...]. Not presenting the Declaration of Final Departure implies the obligation of accountability to the tax authorities.

azraeil
Guest

Doubts about salary net value Jun 9, 2013 5:22:07 GMT

Quote

Post by azraeil on Jun 9, 2013 5:22:07 GMT

There is no tax in Saudi Arabia and if you are UK Payroll (from Brazil) and opt for the currency protection (against the USD for newcomers) than 100% of your salary MUST be deposited in a Saudi Bank. You can only deposit the salary to an overseas account if the bank is registered in the UK I think (an offshore account works as well I'm told)

mahbs Newbie Posts: 5	Doubts about salary net value Sept 5, 2013 8:14:57 GMT Quote Select Post Deselect Post Link to Post Back to Top Post by mahbs on Sept 5, 2013 8:14:57 GMT o jcjr....brasileiro aqui... PM me and I can tell you some things about sallaries and brazilian taxes law...how to deal with it and avoid taxes back home that can be huge if you don't tell them you are out of the country for example...

Doubts about salary net value

Post by jcjr on Jun 6, 2013 16:43:21 GMT

Post by tonio1818 on Jun 7, 2013 6:55:34 GMT

Post by GroveWanderer on Jun 7, 2013 9:24:31 GMT

Post by azraeil on Jun 9, 2013 5:22:07 GMT

Post by mahbs on Sept 5, 2013 8:14:57 GMT