KSA, 4 December, 2024 : The Zakat, Tax, and Customs Authority (ZATCA) in Saudi Arabia has introduced updated guidelines for Zakat returns under the new Zakat regulations.
The revisions aim to enhance clarity with a well-defined calculation framework and stricter compliance measures requiring detailed financial disclosures. Businesses are encouraged to adopt e-filing and automated systems, aligning with ZATCA’s digital transformation goals.
Sector-specific provisions have been introduced to address industry-specific obligations, with clear deadlines outlined to ensure timely submissions. Penalties for non-compliance are also emphasized.
These changes aim to improve transparency and efficiency in Zakat reporting across sectors.
Source : www.zatca.gov.saRelated Posts
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