Saudi Arabia has told businesses to pay outstanding VAT by end of the year or face fines.
The Zakat, Tax and Customs Authority (ZATCA) has urged commercial establishments that have to pay value-added tax (VAT) and whose annual revenues on goods and services exceed SR40m ($10.7m) to submit VAT statements for November by December 31.
ZATCA urged these establishments to submit their tax statements online or to pay via ZATCA smartphone application promptly, in order to avoid a fine of a minimum of 5 per cent and a maximum of 25 per cent of the tax value owed.
Saudi VAT warning
The authority urged taxpayers in the commercial sector wishing to receive more information on VAT to contact it via:
- Call centre: 19993
- X: @Zatca_Care
- E-mail: [email protected]
- Online: zatca.gov.sa
VAT is an indirect tax imposed on all goods and services purchased and sold by most establishments; some exceptions apply.
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