Zakat and Income Taxation invites companies to submit their tax returns for August

Media In / Riyadh 27 September
The Saudi Zakat and Income Tax Authority has invited the establishments registered in the value added tax, whose annual revenues from taxable goods and services is 40 million riyals and more, to submit their tax returns for the month of August before the end of September.
The Authority affirmed that the fine for not submitting the tax return within the specified period is not less than 5% and not more than 25% of the value of the tax that the establishment was required to recognize. A penalty for delay in payment of the tax due will be imposed, equivalent to 5% Each month or part of it has not been paid for in addition to the suspension of many government services.
And indicated that the enterprises are entitled to correct their tax returns that they have already submitted for a previous tax period, in accordance with the provisions of the executive regulations of the VAT system, provided that the Authority is informed of this within a maximum of 20 days from the date of error.