The Zakat, Tax and Customs Authority (ZATCA) urged the establishments eligible for VAT, with an annual supply of goods and services exceeding SAR 40 million, to file their tax returns for January on a date no later than February 28.
ZATCA has called on taxpayers of the business sector to file their tax returns immediately through its website (zatca.gov.sa) or to file and pay via ZATCA App. A fine shall be imposed on failure to file the tax returns within the specified period. The minimum fine shall be 5%, whereas the maximum fine is 25% of the value of the tax that must be declared.
In the meantime, ZATCA invites taxpayers of the business sector who wish to learn more about VAT to reach out via its 24/7 call center hotline (19993), the Customer Care Twitter account (@Zatca_Care), via e-mail (firstname.lastname@example.org), or by instant messages on ZATCA's website (zatca.gov.sa).
VAT is a tax law in force in the Kingdom of Saudi Arabia as an indirect tax imposed on all goods and services that are bought and sold by businesses, with a few exceptions.