The Zakat, Tax, and Customs Authority (ZATCA) urged establishments taxable to VAT, with goods and service revenues exceeding SAR 40 million to file their tax returns for January, on a date no later than 28th of February.
The Authority has called on establishments to file their tax returns immediately through its website (zatca.gov.sa) or to file and pay them through ZATCA's 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 25% of the value of the tax that must be declared.
In the meantime, ZATCA invites taxpayers who wish to learn more about VAT to reach out via 24/7 call center hotline (19993), the Customer Care Twitter account (@Zatca_care), via e-mail (info@zatca.gov.sa), or by instant messages on ZATCA's website (zatca.gov.sa).
The 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.