Mon, 2018-05-14 01:46
JEDDAH: The General Authority of Zakat and Tax (GAZT) has stepped up its value-added tax (VAT) inspections in the build-up to Ramadan with its accompanying rise in trade.
The GAZT confirmed that it has issued orders for 5,212 VAT violations against non-compliant businesses since VAT was implemented in the Kingdom.
Violations ranged from issuing VAT invoices without all the required information to collecting taxes that exceed 5 percent, not including a tax number on the invoices and eligible businesses not registering for VAT.
The GAZT said in a statement that its field inspections across the Kingdom targeted several sectors, including shopping malls, car maintenance centers, electrical appliance stores, and food markets.
The authority aims through its field inspections to raise the awareness of businesses about the importance of applying VAT to follow up on whether they were complying with the tax, and to ensure proper application of all VAT procedures.
The GAZT urged all consumers to use the VAT smartphone app as it allows them to know if the businesses they deal with are registered in the VAT system and to report violating businesses, noting at the same time that they can also call the GAZT on toll-free number 19993.
Main category: Saudi ArabiaTags: taxVATGeneral Authority of Zakat and TaxGAZT VAT on tobacco in Saudi Arabia persuades many smokers to quit, but some hang onOil and taxes boost Saudi budget as employee spending surges