Saudi enterprises urged to adhere to tax payment schedule

Updated 24 January 2018

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.


US Consulate General in Dhahran celebrates 244 years of independence, 75 years of US-Saudi partnership

Updated 20 February 2020

US Consulate General in Dhahran celebrates 244 years of independence, 75 years of US-Saudi partnership

  • Consul General Rachna Korhonen: I want to say thank you to the amazing people of Sharqiya who remind me every day how warm, wonderful, welcoming, hospitable, and kind Saudis are
  • Although US Independence Day is July 4, the consulate traditionally celebrates the occasion in the spring due to the pleasant weather this time of the year

DHAHRAN: The US Consulate General in Dhahran hosted its 2020 National Day reception on Feb. 19 to celebrate 244 years of American Independence, and the 75th anniversary of the historic meeting between US President Franklin D. Roosevelt and Saudi King Abdul Aziz aboard the USS Quincy.

Consul General Rachna Korhonen and her husband Juha Korhonen welcomed the deputy governor of the Eastern Province, Khalid Al-Battal, and deputy governor of Alkhobar, Abdullah bin Ali Al-Seef, as the guests of honor.

Although US Independence Day is July 4, the consulate traditionally celebrates the occasion in the spring due to the pleasant weather this time of the year.

“Seventy-five years ago, two great leaders met aboard the USS Quincy. President Franklin Roosevelt and King Abdul Aziz met to chart the future of our bilateral ties. This first encounter between a US president and a Saudi King laid the foundation for the broad strategic partnership the US and Saudi Arabia share today. Beyond partnership, President Roosevelt and King Abdul Aziz forged a personal friendship that is at the heart of the strong ties our two countries share today,” said Korhonen.

She added: “As the first woman to be consul general here, it has been an exciting journey for me. I arrived to Dhahran in August 2017, to a country undergoing remarkable changes.  Vision 2030 has opened new possibilities, tourism opportunities are growing, women are driving and attending sporting events. I have said this many times and it is still true: I have the best job in the best place at the best time.

“Most of all, I want to say thank you to the amazing people of Sharqiya (Eastern Province) who remind me every day how warm, wonderful, welcoming, hospitable, and kind Saudis are. I have made friendships that I know are going to last me a lifetime. When I leave here this summer, I will certainly leave a piece of my heart here but I also plan to take a little piece of your heart with me.”