Trump to visit Saudi Arabia in mid-May: Report    Worshippers in Makkah and Madinah perform Eid Al-Fitr prayer    Saudi authorities shut down food factories and branches over suspected poisoning cases    Saudi Arabia welcomes formation of new Syrian government, expresses hope for stronger ties    Saudi Transport Authority says passengers can ride for free if taxi meters are off    Ministry of Education forms 425 community partnerships with SR653 million impact    Defense, interior, and national guard ministers extend Eid greetings, praise efforts of military and security personnel    Syria forms new government with 22 ministers including one woman President Sharaa vows reform and transparency    Israeli army fires warning shots at UN peacekeepers in southern Lebanon    Denmark rebukes US Vice President Vance over Greenland remarks    Mexico bans junk food in schools to fight childhood obesity epidemic    Makkah and Madinah mobile data usage exceeds global average during Ramadan: CST    Elon Musk's xAI acquires X in all-stock deal    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    100 Thieves claim Marvel Rivals Invitational NA crown as 2025 scene heats up    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    Bollywood actress vindicated over boyfriend's death after media hounding    Saudi Arabia hold Japan to goalless draw in Saitama to stay in World Cup hunt    NewJeans announces hiatus after setback in court battle    George Foreman, heavyweight champion and cultural icon, dies at 76    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



ZATCA: Compliance with tax regulations enhances fair competition and boosts Saudi Arabia's economic appeal
Published in The Saudi Gazette on 21 - 08 - 2024

RIYADH — Zakat, Tax and Customs Authority (ZATCA) Spokesman Hamoud Al-Harbi emphasized the authority's commitment to creating an attractive environment for traders and investors in various business sectors in the Kingdom through ensuring fair market competition and compelling taxpayers to comply all zakat, tax, and customs regulations.
Al-Harbi said taxpayers' compliance with regulations is bound to lead to an increase in business activities, in line with the goals of the Kingdom's Vision 2030, contributing to the growth of the national economy and its diversification. He urged individuals to take advantage of the services and 130 guiding principles provided by ZATCA through its website, which helps educate taxpayers on the authority's procedures and services.
Al-Harbi stressed that ZATCA officials conduct daily inspection and follow-up operations to monitor the tax situation and prevent tax evasion. Tax-evasion cases are dealt with through the rules, procedures and penalties stipulated in the value added tax (VAT) and Selective Tax mechanisms.
Moreover, the authority may decide to make public decisions to penalize tax evaders, for accountability and to discourage such practice, ultimately improving the national economy.
Al-Harbi highlighted the need to combat tax evasion, and the practice of submitting incorrect data, and fabricating or modifying invoices.
Similarly, importing, producing, or possessing goods without proper registration is a form of selective tax evasion, he said, urging taxpayers to cooperate with the authority and disclose accurate information voluntarily, to ensure fairness.
Al-Harbi called on the public to report cases of tax evasion. The authority provides rewards, at the highest 2.5 percent of the value of violations and fines, with a maximum of SR1 million and a minimum of SR1,000, to those who report violations proven valid.
ZATCA may be contacted for inquiries at the unified call center number 19993, which operates 24/7, via email [email protected], @Zatca_Care@ at X platform, or instant chats through the authority's website.


Clic here to read the story from its source.