In Syrian and Egyptian dialect we just say (حَسَب) or (على حَسب) then complete the translation simply.
In standard Arabic it's (ذلك يعتمد); actually this translation is incomplete because the verb يعتمد is transitive in Arabic, so the complete translation will depend on what will come next, or you can simply add something general to fulfill the transitive verb; and consider the sentence like "it depends on your point if view", or "depends on what you are looking for"
Now let me give you an example:
Person 1: "What do you think of the book?"
Person 2: "It depends. I think it's price is acceptable, but this copy is uncolored...
the translation ınto standard Arabic would be:
ذلك يعتمد على وجهة نظرك (أو يعتمد على ما تبحث عنه)، أعتقد أن سعره مقبول، لكن هذه النسخة غير ملونة
feel free to tell me to explain any unclear points