ALBAWABA – Saudi authorities have warned businesses in Saudi Arabia to pay due taxes or face major fines by August 31, Arabian Business reported last week.
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) has called on commercial sector businesses subject to value-added tax (VAT) to submit VAT statements for July by August 31.
Companies whose annual revenues of goods and services exceed SAR 40 million ($10.7 million) are required to file for VAT and pay taxes.
ZATCA urged facilities to expedite submitting their tax statements via the authority’s website or to submit and pay via the authority’s ZATCA smartphone application.
Fines applicable to missing the deadline range from five percent to 25 percent of the assessed payable, due VAT, according to Arabian Business.
Businesses in Saudi Arabia to pay due taxes or face major fines beyond August 31
For inquiries, business taxpayers can contact the authority via the following methods:
Via the call centre’s unified number 19993, which operates 24/7
Through the Twitter account @ Zatca _Care
Through the e-mail info@zatca.gov.sa
On instant chat via the authority’s website zatca.gov.sa
VAT is one of the Kingdom’s tax systems in force and is an indirect tax imposed on all goods and services purchased and sold by facilities, with some exceptions.
