Saudi Arabia issues VAT warning as businesses face hefty fines
The authority urged companies to file early through its website or mobile app to avoid penalties ranging from 5 per cent to 25 per cent of the VAT due. ZATCA encouraged businesses to expedite…
The authority urged companies to file early through its website or mobile app to avoid penalties ranging from 5 per cent to 25 per cent of the VAT due.
ZATCA encouraged businesses to expedite filing through its official website or the ‘ZATCA’ smartphone application.
Saudi tax warning
VAT is one of the tax systems currently in effect in Saudi Arabia. It is an indirect tax applied to most goods and services bought and sold by businesses in the Kingdom, with certain exceptions.
Taxpayers from the business sector seeking further guidance were advised to contact ZATCA via@
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