Saudi Arabia’s Zakat, Tax Authority and Customs (Zatca) issued a reminder to all commercial establishments with income over SR40M ($ 10.7m) to submit their additional tax (VAT) to return for May on June 30.
Businesses fail to accomplish dangerous sanctions from 5 percent to 25 percent of total VAT appropriate, depending on the delay and severity of non-compliance.
VAT in Saudi Arabia is an indirect tax used in most goods and services sold or purchased, with some exceptions. All qualified businesses are legally required to report and pay VAT in time to remain following national tax regulations.
Saudi Tax Rules
Businesses asking for further assistance can access Zatca support through multiple channels:
Zatca continues to emphasize the importance of proper adherence to the period of avoiding fines and supporting efficient operations in government tax system.
