The Zakat, Tax and Customs Authority (ZATCA) has urged establishments taxable to VAT, with goods and service revenues exceeding SAR 40m to file their tax returns for last December and the fourth quarter of 2023, on a date no later than 31st of January.
ZATCA 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 unified contact number (19993), the Customer Care X 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.
