Saudi Arabia’s General Zakat and Tax Authority says Thursday deadline for company tax declaration

The General Authority of Zakat and Tax (GAZT) called on entities and companies to file their tax declaration for the month of April by Thursday May 31. (Shutterstock)
Updated 28 May 2018
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Saudi Arabia’s General Zakat and Tax Authority says Thursday deadline for company tax declaration

JEDDAH: The General Authority of Zakat and Tax (GAZT) called on entities and companies registered with the value added tax (VAT) scheme to file their tax declaration for the month of April by Thursday May 31(corresponding to 15 Ramadan 1439H).
The authority set the end of May as the deadline for companies and entities whose annual value of taxable goods and services exceed 40 million Saudi riyals, the Saudi Press Agency said.
While establishments with annual values of taxable goods and services at less than 40 million riyals should file their tax declarations every three months.
The authority said in a statement those who fail to submit their declaration during the specified period will be fined a minimum of 5% and a maximum of 25% of the value of tax that entity was due to pay.
This is in addition to a fine for the delayed payment of tax due, which is equivalent to 5% of the value of the unpaid tax per month or part of the tax that was not paid.


KSA, Mauritania sign MoU to promote moderate values in society

Saudi Islamic Affairs Minister Sheikh Abdulatif Al-Asheikh and his Mauritanian counterpart Ahmed Ould Ahl Dawood at the Ministry of Islamic Affairs headquarters in Riyadh on Sunday. (SPA)
Updated 4 min 44 sec ago
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KSA, Mauritania sign MoU to promote moderate values in society

  • The Mauritanian minister hailed the strong bonds and historical relations between the two countries and their cooperation in many fields

JEDDAH: The Saudi Islamic Affairs Ministry on Sunday signed a memorandum of understanding (MoU) with Mauritania’s Islamic Affairs Ministry to increase cooperation in different fields and to promote the concepts of moderation in Islam.
The MoU was signed between Saudi Islamic Affairs Minister Sheikh Abdulatif Al-Asheikh and his Mauritanian counterpart Ahmed Ould Ahl Dawood at the Ministry of Islamic Affairs headquarters in Riyadh.
The MoU included nine main articles. It envisages cooperation in introducing Islam and its position on contemporary issues, serving the Holy Qur’an and the Sunnah, and cooperation in mosque affairs, their construction and maintenance.
In addition to that, the two sides will work under this MoU to adopt and propose programs to explain and promote concepts of moderation in Islam and assist the progress and advancement of Muslim nation in various fields.
The two sides will also share information, coordinate their efforts during international events, and cooperate in preparing studies and conducting research related to protecting, reviving and spreading Islamic heritage.
The MoU also stated that the two sides shall encourage the exchange of visits at various levels, participate in Islamic seminars and conferences held in both countries, and form a joint committee for the implementation of the MoU’s content.
The MoU concluded that the Hijri date is to be used in all correspondence between the two sides. The MoU shall enter into force on the date of its signature between the two sides and it shall be implemented within five years and will be automatically renewed for the similar duration unless one side informs the other that they wish to amend or terminate it.
Al-Asheikh said: “This memorandum of understanding comes under the guidance of King Salman and Mauritanian President Mohamed Ould Abdel Aziz in the framework of the distinguished historical relations between the two countries, especially in serving Islam and Muslims.”
He referred to what has been achieved through Crown Prince Mohammed bin Salman’s recent visit to Mauritania, which was the first visit of a senior Saudi official to Mauritania in four decades to strengthen relations between the two countries to unprecedented levels.
Al-Asheikh pointed out that the MoU will promote joint cooperation in various fields.
The Mauritanian minister hailed the strong bonds and historical relations between the two countries and their cooperation in many fields.
He also praised the articles of the MoU, which he described as important and historical.