10/18/2017 6:18:55 AM cpa club 2 years ago
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, taxpayers will be asked to either pay the VAT liability or may claim back VAT refund depending on their situation. This set of activities is commonly referred to as VAT return filing.
A tax return means filing details of transactions related to a tax period.
When to File Return
How to File Tax return
Return must be filed electronically through GAZT e-portal.
A return will include following minimum information
Any corrections from previous return (due to an error or omission) of more than 5,000 SAR, the taxpayer will need to complete a self-amendment.
Where the taxable person fails to file the VAT Return within the prescribed period, GAZT may make an assessment of the tax.
© 2020 - CPA Club KSA