Zakat, the tax and customs authority of Saudi Arabia has invited taxpayers in the corporate sector subject to value added tax to file tax returns for the month of last September and the third quarter of 2021 AD, by and no later than the 31st of this month.
The “Zakat, Tax and Customs” urged corporate sector taxpayers to quickly submit their tax returns, in order to avoid the penalty for failing to submit the return within the specified deadline, from a minimum of 5% to a maximum of 25% of the value of the tax that the taxpayer would have had to declare.
Zakat, the tax and customs authority has invited taxpayers in the business sector who wish to obtain more information on value added tax to communicate with it through official means.
Value Added Tax is one of the tax systems in force in the Kingdom of Saudi Arabia, and is an indirect tax levied on all goods and services that are bought and sold by the establishments, with some exceptions.
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