The General Authority of Zakat and Tax (GAZT) approved a series of amendments to various articles of the value added tax (VAT) implementing regulations. Some of the amendments are: Article 53 now requires all registered businesses to issue simplified invoices for all transactions that were not otherwise covered by the article and Businesses that do not comply with the tax laws and implementing regulations will be fined SAR 50,000. GAZT website here.
Sponsors:
