The Saudi Zakat, Tax, and Customs Authority (ZATCA) has issued an important reminder for businesses whose annual turnover of goods and services exceeds SAR 40 million. These companies are obligated to file their Value-Added Tax (VAT) statements for the month of April by the fast-approaching deadline of May 31st.
Establishments are encouraged to act swiftly and submit their tax statements to avoid the imposition of penalties for late submissions. These fines can be significant, ranging from 5% to 25% of the unpaid tax amount. Submissions can be made directly through the official ZATCA website or by using the dedicated ZATCA smartphone application.
For those in need of assistance regarding VAT, ZATCA has provided several channels for support. Businesses can reach out to the unified call center available 24/7 at the number 19993, engage with ZATCA via social media, send inquiries to their email address, or use the live chat feature on the ZATCA website.
VAT is a crucial indirect tax applied to all goods and services exchanged by businesses within the Kingdom, with certain exceptions. The timely compliance with VAT regulations is a key component of business operations in Saudi Arabia’s robust economic landscape.