The Zakat, Tax and Customs Authority (ZATCA) has issued a reminder to businesses with an annual turnover exceeding SAR40 million from goods and services, to file their VAT returns for the preceding December. The deadline for submission is set for January 31, and companies are advised to act swiftly to avoid incurring fines.
Commercial entities are encouraged to utilize the official ZATCA portal at zatca.gov.sa or the authority’s mobile application for efficient processing of their tax statements. Failure to meet the submission deadline could result in penalties ranging from 5% to 25% of the unpaid tax amount.
The authority has also made resources available for those seeking additional information on VAT matters. Businesses can reach out through the 24/7 call center at 19993, engage with ZATCA via the social media handle @Zatca_Care, send inquiries to info@zatca.gov.sa, or access instant chat on the ZATCA website.
VAT is a broad-based consumption tax levied on the majority of goods and services traded by businesses, with certain exceptions. Compliance with tax regulations is essential for all companies operating within the jurisdiction.