Saudi Arabia has warned businesses to pay tax bills before end of the month 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 October no later than November 30.
Businesses which do not comply will face hefty fines.
Saudi tax warning
ZATCA urged these establishments to submit their tax statements via zatca.gov.sa website or to pay via 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 owed.
The authority urged taxpayers in the commercial sector wishing to receive more information on VAT to contact it via:
- 24/7 call centre: 19993
- Twitter/X: @Zatca _Care
- Email: firstname.lastname@example.org
- Online instant chat: www.zatca.gov.sa
VAT is an indirect tax imposed on all goods and services purchased and sold by most establishments, although some exceptions apply.