The Zakat, Tax and Customs Authority (ZATCA) has reminded businesses subject to Value Added Tax (VAT) with annual supplies exceeding SAR 40 million to submit their tax returns for November by December 31.
ZATCA urged businesses to submit their tax returns on time through its website to avoid a late filing penalty. These penalties range from a minimum of 5% to 25% of the due tax amount. Businesses can submit their returns through the ZATCA website (zatca.gov.sa) or the ZATCA mobile app.
VAT is an indirect tax applied to most goods and services supplied or acquired by businesses in Saudi Arabia, with certain exceptions. ZATCA encourages businesses to stay compliant and leverage its resources for support.
