A Saudi inspection campaign has led to the discovery of 323 value-added tax (VAT) violations by the General Authority for Zakat and Tax (GAZT) in the retail industry, according to local media reports.
According to Arab News, the campaign was designed to ensure that mobile phones, electronic centres and shops in the kingdom comply with the VAT system, and targeted 1,876 locations across the country.
The violations - 17 percent of the total inspected - included failures to use proper invoice forms that have individual and unique tax numbers, failure to present VAT registration certificates, and the issuance of invalid invoices.
The GAZT has carried out a number of awareness campaigns to help ensure the proper application of VAT procedures in the kingdom.
The authority is also urging consumers to use and the VAT application system that allows them to identify businesses that are VAT registered.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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