Saudi Income: 30 June Deadline for submission of tax returns for establishments with annual revenues exceeding SR 40 million

Media In / Riyadh June 27, 2018
The General Authority for Zakat and Income of Saudi Arabia has called on all establishments registered in the value added tax, which exceeds the value of their annual supplies of taxable goods and services, SR 40 million to submit their tax returns for the month of May before the end of June.
Establishments with annual revenues exceeding SAR 40 million must submit their tax returns on a monthly basis before the end of the month following the specified tax period. SAR 40 million and less, filing their tax returns every 3 months.
The Zakat and Income Tax Authority explained that the failure to supply the required documents during the specified period will expose them to fines of up to SR 50,000. The fines will also be imposed on late establishments in submitting declarations according to the value added tax system, To the fine of defaulting on the payment of VAT due.
In addition to providing all the information and answers to the inquiries of the establishments that are received through the means of communication available such as the unified call center on (19993) SaudiVAT @ social networking accounts, or e-mail
vat@gazt.gov.sa.