Saudi Issues Tax Warning On Commercial Sector Businesses
Saudi Arabia has warned businesses to pay owed tax or face major fines in the country.
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) has called on commercial sector businesses subject to value-added tax (VAT) whose annual revenues of goods and services exceed SR40m ($10.7m) to submit VAT statements for July by August 31.
ZATCA urged facilities to expedite submitting their tax statements via the zatca.gov.sa website or to submit and pay via the authority’s ZATCA smartphone application in order to avoid a fine of a minimum of 5 per cent and a maximum of 25 per cent of the tax value that the taxpayer should pay.
The authority called on taxpayers of the commercial sector wishing to receive more information on VAT to contact it:
- 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.
