ZATCA Warns Companies of March 15 Deadline for Tax Payments in Saudi Arabia

KSA, 12 March, 2024  : Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA), responsible for collecting Zakat, taxes, and customs duties in the kingdom, has cracked down on companies that have failed to file their tax returns since January 2024, urging them to pay up by a March 15 deadline or incur fines. Fines incurred will amount to 5% of unpaid taxes every 30 days, according to a statement by the authority, the Saudi Press Agency reported.

The excise tax is imposed on goods deemed to adversely affect public health or the environment at varying rates, including soft drinks, energy drinks, sweetened beverages, tobacco, and its derivatives.

According to ZATCA, taxpayers from the business sector can pay their dues through the authority’s official website and are able to contact the authority via its call centre, which operates 24/7, along with its official account on X, over e-mail, or on instant chat via its website.

Source : www.zawya.com