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Saudi Arabia

General Authority for Zakat and Income gears up on mutual agreements with ministries to enforce VAT

JEDDAH: The General Authority for Zakat and Income (GAZI) is geared to sign a cooperation deal with the Ministry of Municipal and Rural Affairs following similar agreements with the Ministry of Labor and Social Development and the Customs Department in the context of its preparations to enforce the value added tax (VAT) on Jan. 1, 2018.

Meanwhile, the governor of GAZI, Suhail Abanami said the authority seeks to sign these deals to encourage government agencies to register and achieve the required preparedness before the launch of the VAT system, and provide all means of support and quality services in this regard.

Government agencies have many steps to undertake in preparation for the application of the VAT system and, therefore, GAZI exerts its best to support agencies and upgrade their efficiency, he said.

The GAZI governor urged qualified government establishments, whose annual revenues exceed SR1,000,000 ($266,649), to register for the VAT system before Dec. 20, 2017 through the website vat.gov.sa

For his part, the spokesman for the Ministry of Municipal and Rural Affairs, Hamad Al-Omar, lauded the efforts being exerted by the authority to ensure the application of the VAT system, adding that they were working smoothly with GAZI to serve the national interests.

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