Riyadh, August 20, 2023, The Zakat, Tax, and Customs Authority (ZATCA) has issued a call to commercial sector establishments that fall under the value-added tax (VAT) regulations. These establishments, whose annual revenues from goods and services exceed SAR 40 million, are required to submit their VAT statements for the month of July by August 31. The ZATCA has issued a strong recommendation to all facilities, urging them to promptly submit their tax statements through the official zatca.gov.sa website or, alternatively, utilize the convenient ZATCA smartphone application for submission and payment. Failure to comply with this directive may result in a penalty ranging from a minimum of 5% to a maximum of 25% of the tax amount owed by the taxpayer. The authority has issued a statement urging taxpayers in the commercial sector to seek further details regarding VAT. They have provided multiple channels through which individuals can reach out for information. These include contacting the call center's unified number, 19993, which is available round the clock. Additionally, taxpayers can connect with the authority through their Twitter account, @Zatca_Care, or via email at [email protected]. Instant chat services are also available on the authority's website, zatca.gov.sa. The Value Added Tax (VAT) stands out as a prominent tax system implemented within the Kingdom. This indirect tax is levied on the purchase and sale of all goods and services by establishments, albeit with a few exceptions.
