The Zakat, Tax and Customs Authority (ZATCA) issued a statement urging businesses subject to Value Added Tax (VAT) with annual supplies exceeding SAR 40 million to file their February tax returns by March 31, 2023.
The Authority has called on business sector taxpayers to file their tax returns immediately through its website (zatca.gov.sa) or to file and pay them through ZATCA’s App. A fine will be imposed for failure to file the tax returns within the specified period. The minimum fine is 5% and the maximum is 25% of the value of the tax that must be declared.
Source: zawya.com
