KSA, 21 June, 2024 : The Zakat, Tax and Customs Authority (ZATCA) has reminded businesses in Saudi Arabia, subject to value-added tax (VAT) and with annual supplies exceeding SAR 40 million, to submit their tax returns for May by June 30.
To avoid penalties for late submission, ZATCA emphasizes the importance of promptly filing returns through its official website zatca.gov.sa or the ZATCA smartphone application. Late submission fines range from 5% to 25% of the tax amount owed.
For further assistance on VAT matters, businesses are encouraged to contact ZATCA via the 24/7 unified call center at 19993, the “Ask Zakat, Tax and Customs” account on @Zatca_Care, or through instant chats on zatca.gov.sa.
VAT is an indirect tax applicable to all goods and services traded by businesses in Saudi Arabia, with exceptions specified under the law.
Source : www.zawya.com
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