Saudi Arabia’s General Zakat and Tax Authority says Thursday deadline for company tax declaration

By Deputy Chief EditorMay 28, 2018

132 1 minute read

Author: sarah glubbSun, 2018-05-27 23:40ID: 1527454315704256000

JEDDAH: The General Authority of Zakat and Tax (GAZT) called on entities and companies registered with the value added tax (VAT) scheme to file their tax declaration for the month of April by Thursday May 31(corresponding to 15 Ramadan 1439H).
The authority set the end of May as the deadline for companies and entities whose annual value of taxable goods and services exceed 40 million Saudi riyals, the Saudi Press Agency said.
While establishments with annual values of taxable goods and services at less than 40 million riyals should file their tax declarations every three months.
The authority said in a statement those who fail to submit their declaration during the specified period will be fined a minimum of 5% and a maximum of 25% of the value of tax that entity was due to pay.
This is in addition to a fine for the delayed payment of tax due, which is equivalent to 5% of the value of the unpaid tax per month or part of the tax that was not paid.

The General Authority of Zakat and Tax (GAZT) called on entities and companies to file their tax declaration for the month of April by Thursday May 31. (SPA) Main category: Saudi ArabiaTags: zakat Ramadan Saudi Arabia Saudi Red Sea project to offer visa on arrival for touristsSaudi finance ministry sells 3.95 bln riyals of domestic sukuk