GCC Indirect Tax Weekly Digest

KSA GAZT publishes guide on examination, assessment, correction, and objection to GAZT decisions

The Kingdom of Saudi Arabia (KSA) General Authority of Zakat and Tax (GAZT) has issued the Arabic version of its guide on examination, assessment, correction, and objection to GAZT decisions.

The guide is intended to provide additional clarity to taxpayers regarding obligations and options on procedural and administrative aspects of Value Added Tax (VAT) in KSA.   

The guide covers such topics as instances where GAZT would assess VAT due, circumstances in which taxpayers must correct returns and the procedure for correction, the GAZT examination process, information requests, and the assessment objection process.

The guide includes a flowchart detailing the process for decisions, objections, and appeals.  Should a taxpayer seek to object to an assessment made by GAZT, the flowchart will indicate the correct procedure.

KSA GAZT calls on businesses required to register for VAT to do so before deadline

The Kingdom of Saudi Arabia (KSA) General Authority of Zakat and Tax (GAZT) has issued a press release calling on businesses which have annual revenues exceeding SAR 375,000 to register for VAT before 20 December 2018.

According to Article 79(9) of the VAT Implementing Regulations of KSA, businesses whose annual supplies exceed the mandatory registration threshold of SAR 375,000 but do not exceed SAR 1,000,000 are not obligated to register for VAT until 1 January 2019.

Businesses affected are reminded that VAT registration applications must be submitted to GAZT by 20 December 2018.

This digest is for information purposes only and should not be construed as advice. It does not necessarily cover every aspect of the topics with which it deals. You should not act upon the contents of this alert without receiving formal advice on your particular circumstances.