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Saudi Arabia Warns Businesses to Pay Tax or Face Fines
Riyadh November 6 2023:
Saudi Arabia has called for businesses to pay tax by end of the week or face fines. The Zakat, Tax and Customs Authority (ZATCA) has urged taxpayers from the business sector in the Kingdom subject to the withholding tax (WHT) to file their tax returns for October at a date no later than November 12, 2023.
WHT is one regulation in the Kingdom whereby a tax is withheld from the total income of non-resident establishments that provide services in the Kingdom in accordance with the rates specified in Article 68 of the Income Tax Law and Article 63 of its Implementing Regulations.
Taxpayers may do so through the authority’s website to avoid a one per cent fine for unpaid taxes every 30 days after the due date.