Riyadh, October 20, 2024 – The Zakat, Tax and Customs Authority (ZATCA) has issued a reminder to commercial establishments across Saudi Arabia regarding the timely submission of value-added tax (VAT) statements. Businesses with annual revenues exceeding SAR 40 million are required to submit their VAT returns for the month of September, while those whose revenues fall below this threshold must submit their statements for the third quarter of 2024. The deadline for both submissions is October 31, 2024.
ZATCA has urged businesses to act promptly to avoid financial penalties. Failure to submit VAT statements or make payments by the deadline will result in fines ranging from a minimum of 5% to a maximum of 25% of the unpaid tax amount. To facilitate compliance, the authority has provided multiple submission methods, including its official website (zatca.gov.sa) and a mobile application, enabling businesses to complete their filings and payments with ease.
For businesses seeking additional guidance or information on VAT-related matters, ZATCA offers multiple communication channels. Taxpayers can reach the authority’s 24/7 call center at 19993, interact through the official X (formerly Twitter) account @Zatca_Care, send inquiries via email to [email protected], or engage in real-time chat through ZATCA’s website.
As a reminder, VAT is an indirect tax applied to most goods and services sold or purchased by commercial establishments, with a few exceptions. ZATCA emphasizes the importance of adhering to VAT regulations to avoid legal consequences and maintain compliance with Saudi tax laws.