The Zakat, Tax and Customs Authority held an awareness workshop for Korean companies residing in the Kingdom that are subject to the applicable tax regulations, in the presence of His Excellency Mr. Kim Do Kyun, the Counselor at the Korean Embassy, and Mr. Lee Seung Kwan, the commercial attaché of the embassy.
The workshop, which was held at the Authority's headquarters, showed the role of the relationship manager in supporting taxpayers to handle their financial transactions, in addition to raising awareness of the procedures and initiatives provided by ZATCA.
During the workshop, ZATCA offered the transaction pricing system in the Kingdom and its mechanism, in addition to discussing the procedures for examination, objections and settlement, in addition to the collection procedures and the presentation of explanatory decisions with a statement of the rights of taxpayers in this regard.
In addition, the current initiatives towards facilitating cross-border trade were reviewed, which is based on the importance of ensuring the speed and flexibility of customs procedures related to importing, clearance, and all associated logistics services. These awareness workshops come as part of the efforts to educate taxpayers subject to tax regulations and to facilitate cross-border trade through its initiatives presented at all customs ports.