ZATCA Urges Prompt VAT Return Submission Ahead of March 31 Deadline

KSA, 21 March, 2024 : ZATCA has reminded institutions in Riyadh with annual supplies exceeding SAR 40 million to submit their VAT tax returns for February before the March 31 deadline. Timely submission is emphasized to avoid penalties ranging from 5% to 25% of the declared VAT returns.

Businesses are urged to utilize the zatca.gov.sa website or the ZATCA smartphone application for prompt VAT return submission. Further assistance on VAT matters can be obtained by contacting ZATCA via phone at 19993, which operates 24/7, or through various other channels such as social media, email, or the live chat feature on the authority's website.

VAT is an indirect tax applicable to all goods and services traded by entities, with compliance being essential to ensure legal adherence and prevent potential penalties.

Source : www.ksa.com