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Saudi Arabia Warns of New Year Tax Implications

  • Publish date: Thursday، 11 January 2024
Saudi Arabia Warns of New Year Tax Implications

Saudi businesses are warned to submit VAT statements by January 15th, as the Zakat, Tax, and Customs Authority (ZATCA) emphasizes the importance of fulfilling tax obligations.

Entities liable for value-added tax (VAT) are urged to use the zatca.gov.sa platform to submit statements for November and December, with a deadline to avoid fines.

ZATCA emphasizes communication channels for inquiries, including phone (19993), email ([email protected]), and online platforms.

Failure to comply may result in a minimum 5% fine based on the owed tax value. VAT is levied on most goods and services, with exceptions.