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Saudi Arabia Sets Out VAT Filing, Payment Obligations

by Lorys Charalambous, Tax-News.com, Cyprus

23 January 2018


Saudi Arabia's tax agency, the General Authority for Zakat and Tax (GAZT), has issued a reminder to taxpayers that all enterprises registered for the territory's new value-added tax whose supplies exceed SAR40m (USD10.6m) annually must file their tax returns on a monthly basis.

As such, enterprises in this category must file their January tax returns before the end of February 2018. Enterprises whose supplies of goods and services total SAR40m or less, meanwhile, are required to file tax returns every three months. The first tax returns for this latter category are due before the end of April 2018 at the latest.

GAZT pointed out that there are penalties for non compliance: a fine equal to no less than five percent and no more than 25 percent of the tax amount. There is also a late-payment fine of five percent of the amount due each month or part thereof. Taxable persons failing to comply may also lose access to government services.

Taxable persons are required to file a two-part form. The first part covers output tax and the second input tax. GAZT said enterprises will automatically be issued a tax invoice by GAZT, after filing their tax returns, which will contain an invoice number and tax amount due, and once the invoice is issued, the tax amount due must be paid to GAZT's bank account via the SADAD online payment portal or via any ATM. Once payment is made, the enterprise will receive a notice from GAZT confirming the amount paid.

TAGS: compliance | VAT tax authority guidance | tax | value added tax (VAT) | Saudi Arabia | tax authority | penalties | services | VAT compliance matters | Tax

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