Saudi enterprises urged to adhere to tax payment schedule

Updated 24 January 2018
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Saudi enterprises urged to adhere to tax payment schedule

JEDDAH: Saudi enterprises registered for value-added tax (VAT) and with supplies of goods and services exceeding SR40 million ($10.7 million) annually should file their tax returns on a monthly basis, the General Authority for Zakat and Tax (GAZT) has said.
Under VAT law and implementing regulations, enterprises in this category must file their January tax returns before the end of February 2018. Enterprises whose supplies of goods and services total SR40 million or less are required to file tax returns every three months. The first tax returns for this latter category are due no later than the end of April.
VAT implementing regulations require the taxable person, or whoever is authorized to act on their behalf, to file returns no later than the last day in the month following the end of the tax period to which it relates.
GAZT said that failure to file a return within the required period would result in a fine equal to no less than 5 percent and no more than 25 percent of the tax amount the enterprise was obliged to file. Enterprises at fault would also face a late-payment fine equal to 5 percent of the tax amount due for every month or part thereof for which the tax went unpaid, as well as suspension of several government services.
Enterprises must adhere to the tax return form specified by the GAZT. The form includes two sections, the first for tax due on revenues (output tax) and the second for tax due on purchases (input tax).
After filing their returns, enterprises will be issued a tax invoice by the GAZT detailing the invoice number and amount to pay.
Once the invoice is issued, the tax due must be paid to GAZT’s bank account via the SADAD online payment portal or any ATM. Once payment is made, the enterprise will receive a notice from the GAZT confirming the payment.


UN backs Saudi calls on justice, crime prevention

Abdullah bin Fakhri Al-Ansari. (Supplied)
Updated 3 min 12 sec ago
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UN backs Saudi calls on justice, crime prevention

  • KSA called on member states to review national legislation to exchange experiences and techniques to effectively combat cybercrime
  • Summit resolutions target terror, cybercrime, online child abuse

GENEVA: A UN commission on crime prevention has unanimously ratified resolutions by Saudi Arabia targeting terrorism, child exploitation and cybercrime.
The Commission on Crime Prevention and Criminal Justice ratification came during its 28th session at the UN headquarters in Vienna.
The most important of the Kingdom’s four resolutions seeks to combat child sexual exploitation through the internet, provide technical assistance for the implementation of international conventions to fight terrorism, and strengthen technical assistance and international cooperation to combat cybercrime.
Through these resolutions, the Kingdom highlighted the need for the UN Office on Drugs and Crime to help provide access to justice for victims of child sexual exploitation and abuse through the Internet according to national legislation.
Saudi Arabia called on member states to exchange experiences on raising awareness and reporting cases of child sexual abuse and exploitation and urged them to learn from the experiences of other states in fighting extremism, recruitment and incitement of individuals to carry out terrorist acts.
The Kingdom also called on member states to review national legislation to exchange experiences and techniques to effectively combat cybercrime.
Saudi Arabia emphasized the main topics to be discussed during the 14th UN Congress on Crime Prevention and Criminal Justice, to be held in Kyoto, Japan, and the need to focus on strengthening confidence in the rule of law, international coordination and cooperation in criminal matters, and deepening public-private sector partnerships in crime prevention efforts.
Addressing the commission’s 28th session, Abdullah bin Fakhri Al-Ansari, an adviser to the Saudi Interior Ministry, said that terrorism poses a major threat to international peace and security, and undermines the fundamental values ​​of the UN.
Al-Ansari, who is also the ministry’s director general of legal affairs and international cooperation, called for coordination and cooperation between states and organizations at regional and international levels to fight terrorism, exchange best practices, and assist in the investigation and prosecution of terrorism cases.
Leading the Saudi delegation at the conference, he called for the provision of technical assistance in capacity-building, prevention, awareness-raising, international cooperation, data collection, research, and analysis to combat cybercrime.
Al-Ansari stressed the importance of strengthening cooperation around the world to track down perpetrators by criminalizing the possession, distribution, and production of child sexual abuse materials.
He highlighted the importance of capacity-building, the provision of services and support to victims of child abuse through the Internet, providing training and strengthening the technical capacity of law enforcement agencies, providing technical support for the development of effective policies and programs, and implementing awareness-raising and education campaigns to protect children from abuse.