15 hours ago
Saudi Arabia urges businesses earning over $10.7m to file VAT returns by June 30
Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) has issued a reminder to all commercial establishments with revenues exceeding SR40m ($10.7m) to submit their Value Added Tax (VAT) returns for May by June 30.
Businesses that fail to comply risk penalties ranging from 5 per cent to 25 per cent of the total VAT due, depending on the delay and severity of non-compliance.
VAT in Saudi Arabia is an indirect tax applied to most goods and services sold or purchased, with some exemptions. All qualifying businesses are legally required to report and pay VAT on time to remain compliant with national tax regulations.
Saudi tax rules
Businesses seeking further assistance can access ZATCA support through multiple channels:
ZATCA continues to emphasise the importance of timely compliance to avoid penalties and support the efficient operation of the Kingdom's tax system.
