What Is Meant By Tax Declaration?
The tax declaration is a report that contains the financial movements coming in and out of the facility, such as sales and purchases subject to value added tax during a specific period of time, submitted by the taxable establishments to the Zakat Authority on specific dates.
What Are The VAT
What Are The Steps For VAT Declaration?
Enter the service via the ZATCA website.
Go to the Indirect Tax - Value Added Tax tab.
Go to the declarations of VAT tab.
Select the declaration to be filed.
Submit VAT declaration form.
VAT on Sales.
VAT on Purchases.
You will receive a copy of your declaration and bill.
Detailed Explanation of VAT Declaration Steps:
What Are The Dates For Submitting Tax Declaration?
- Establishments whose annual supplies of goods and services exceed 40 million Saudi riyals must submit their tax declaration on a monthly basis.
- Establishments whose annual supplies of goods and services are less than 40 million riyals must submit their tax declaration every three months.
What Is The Penalty For Not Submitting The Tax Declaration On The Specified Dates?
A fine of not less than 5% and not more than 25% of the tax value.
What Is The Fine For Amending A Tax Declaration?
The violation is to submit a tax value less than the assumed, or modify the declaration, this may be an unintended mistake in the way to file the tax declaration on the site or intentionally.
The fine for amending the tax declaration is estimated at 50% of what was deducted from the original tax amount.