Saudi Tax Warning: ‘Submit Forms Now or Face Fines’

Saudi Tax Warning: ‘Submit Forms Now or Face Fines’

Saudi Arabia has called on entities to submit tax deduction forms or face fines. The Zakat, Tax, and Customs Authority (ZATCA) has urged entities in the Kingdom subject to tax deduction to submit forms for April by May 12, 2024. The authority called on entities to promptly submit tax deduction forms through its website to avoid late payment …

The post Saudi Tax Warning: ‘Submit Forms Now or Face Fines’ appeared first on Gulf Insider.Saudi Arabia has called on entities to submit tax deduction forms or face fines.

The Zakat, Tax, and Customs Authority (ZATCA) has urged entities in the Kingdom subject to tax deduction to submit forms for April by May 12, 2024.

The authority called on entities to promptly submit tax deduction forms through its website to avoid late payment fines within the specified period, which amounts to 1 per cent of the unpaid tax for every thirty days of delay from the due date.

Saudi tax authorities

A tax deduction is imposed on all amounts paid from a source in the Kingdom to non-resident entities that do not have a permanent establishment in the Kingdom, according to the rates specified in Article 68 of the Income Tax Bylaw and Article 36 of its implementing regulations.

ZATCA also urged business