The Zakat, Tax, and Customs Authority have urged businesses subject to VAT, with annual supplies of goods and services exceeding 40 million Saudi Riyals, to submit their tax returns for last February by no later than the 31st of March.
The Authority has encouraged establishments to expedite the submission of their tax returns through the electronic portal (zatca.gov.sa), or through the Authority's smartphone application (ZATCA) to avoid penalties for late submission, ranging from 5% to 25% of the tax value that the taxpayer was required to declare.
Furthermore, the Zakat, Tax, and Customs Authority invited businesses in the business sector seeking further information about VAT to contact them through the unified call center number (19993), operating 24 hours a day, seven days a week, or via the "Ask Zakat, Tax, and Customs" account on the platform (@Zatca_Care) X, through email ([email protected]), or through instant messaging on the Authority's website (zatca.gov.sa).
Value Added Tax is one of the prevailing tax systems in the Kingdom, which is an indirect tax imposed on all goods and services purchased and sold by establishments, with some exceptions.
March 20, 2024
- BY amel alenazi