Tips


Payment of Corporate Zakat in Installment

Zakat/Income Tax

Certain cases business cannot pay the lump sum amount Zakat at a time, mainly this is due to the bad collection or fund flow to the business. Such cases GAZT has provided the business to pay Zakat in



How many years after can deduct VAT input tax?

VAT

The answer is five years  The Implementing Regulations allows a Taxable Person to deduct Input Tax in a tax period subsequent to that tax period including the date of supply, subject to a statutory l




VAT

What is Reverse Charge Mechanism? (VAT)

Normally, the supplier of goods or services pays the tax on supply. In the case of Reverse Charge, the receiver becomes liable to pay the tax to the government (Reversed). As per Saudi VAT Law any sal

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Labor Law

Termination of Employee Contract without providing end of service benefits- Article 80 Saudi Labor Law

  An employer may terminate the contract without an award, advance notice or indemnity in the following cases, and provided that he gives the employee a chance to state his reasons for objecting to t

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VAT

Tax Invoice- Saudi VAT

The Zakat and Income Tax Authority clarified the VAT invoice form to be adopted with the introduction of the tax on 1 January 2018, with the aim of improving the levels o

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VAT

VAT Tax Return - Saudi VAT

Taxpayers will be required to file their returns to provide details of transactions related to taxable supplies and purchases. Following the submission of VAT return form

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VAT

Penalties as per Saudi VAT Law

  Penalties for Tax evasion Tax evasion shall be punishable by a fine of not less than the amount of Tax due and not more than three times the value of the Goods or Ser

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VAT

Restriction for Claiming Input Tax - Saudi VAT

Expenditure relating to the following Goods or services is not considered to be incurred by the taxable Person in the course of carrying on his Economic Activity as per S

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