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Saudi Arabia calls on taxpayers to submit VAT returns or face fines

Saudi Arabia’s Zakat, Tax, and Customs Authority issues VAT return reminder

by Staff Writer
Saudi

Saudi Arabia has issued a VAT reminder to taxpayers, telling them to submit returns or face fines in the Kingdom.

The Zakat, Tax, and Customs Authority (ZATCA) has issued a reminder to all enterprises subject to value-added tax (VAT) with annual supplies exceeding SR40m ($10.7m) to submit their VAT returns for the month of March.

Additionally, enterprises with annual supplies below SR40m ($10.7m) are urged to file their VAT returns for the first quarter of 2024 by April 30.

Saudi VAT deadlines

To avoid potential fines ranging from 5 per cent to 25 per cent of the prescribed VAT, enterprises are directed to visit the Authority’s website or utilise the Authority’s smartphone application.

For further information on VAT, business taxpayers are encouraged to contact the Authority via:

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