Saudi: Tax Authority Conducts 1,335 VAT Inspections
The General Authority for Zakat and Tax (GAZT) has implemented an extensive inspection campaign to shops in the retail sector, the Saudi Press Agency reported.
It aims to ensure the commitment of shop owners to the value-added tax (VAT) system and the implementation of its regulations, and the non-implementation of the tax’s updated value before schedule.
In cooperation with the Ministry of Commerce, GAZT has implemented 1,335 inspection visits, with the participation of all the authorities’ branches in different regions since the announcement of increasing the VAT to 15 percent from 5 percent on May 11.
The number of shops penalized for tax violations has reached 421, and violations varied from not keeping records, documents and tax invoices to failing to collect VAT.
