Saudi Arabia’s tax authority finds 323 VAT violations during inspection tour

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Saudi Arabia’s tax authority finds 323 VAT violations in 1,876 locations during an inspection tour. (SPA)
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Saudi Arabia’s tax authority finds 323 VAT violations in 1,876 locations during an inspection tour. (SPA)
Updated 10 August 2018
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Saudi Arabia’s tax authority finds 323 VAT violations during inspection tour

JEDDAH: Saudi Arabia’s General Authority for Zakat and Tax (GAZT) announced the seizure of 323 VAT violations during
an inspection campaign targeting mobile phones and electronic appliances in commercial centers and shops throughout the Kingdom.
The campaign was aimed at ensuring that establishments comply with the value added tax system and its executive regulations, reported the Saudi Press Agency.
The field campaign carried out by the authority’s inspection teams began last week and targeted 1,876 locations in various regions of the Kingdom.
The violations included the failure of companies to use the approved tax invoice forms, which includes their individual unique tax number, not presenting the VAT registration certificate, or issuing invalid invoices by companies not bound by tax invoice requirements.
GAZT seeks to raise awareness among businesses on the importance of applying VAT and ensure proper application of all tax procedures through its ongoing field campaigns.
The authority reiterated its call to all consumers to use and abide by the VAT application that allows them to identify which businesses are registered with the VAT system.


Saudi crown prince ‘hopes’ investments with India will create many jobs

Updated 20 February 2019
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Saudi crown prince ‘hopes’ investments with India will create many jobs

  • Saudi Arabia expects investments in India to reach $100 billion in the next two years
  • Modi praised relations between the two countries after signing cooperation agreements

DUBAI: Saudi Arabia’s Crown Prince said on Wednesday that he hopes that investments with India will create many jobs.

During a press conference with India’s Prime Minister Narendra Modi, Crown Prince Mohammad bin Salman said Saudi Arabia expects investments in India to reach $100 billion in the next two years.

The Crown Prince also said that there were many opportunities for India and Saudi Arabia and added that relations between the two countries were historic.

Modi praised relations between the two countries after signing cooperation agreements.