The Zakat, Tax and Customs Authority (ZATCA) in Saudi Arabia has issued a call to commercial establishments that are subject to value-added tax (VAT) and have annual revenues exceeding SAR40 million ($10.7 million). These establishments are required to submit their VAT statements for January 2025 by the deadline of February 28, 2025.
ZATCA encouraged these businesses to ensure timely submission of their tax statements through the zatca.gov.sa website or via the ZATCA smartphone application. This proactive approach is crucial to avoid penalties, which can range from a minimum of 5 percent to a maximum of 25 percent of the tax value due, SPA reported.
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The authority also emphasized that taxpayers within the commercial sector who are in need of further information regarding VAT can reach out through various channels. They can further contact the 24/7 call center at 19993, connect via their X account @Zatca_Care, send an email to info@zatca.gov.sa, or utilize the instant chat feature available on their website, zatca.gov.sa.
VAT is classified as an indirect tax that is levied on the majority of goods and services that are bought and sold by establishments, although there are certain exceptions to this rule.
