RIYADH: The General Authority for Zakat and Income Tax (GAZT) has urged Saudi companies and entities registered in the VAT with annual turnovers of taxable goods and services exceeding SR40 million ($10.5 million) to submit their tax returns through their accounts on its website www.gazt.gov.sa.
GAZT said declarations for the month of August were due by the end of September.
The authority announced that companies had 20 days’ grace from the date of their tax declaration to report any errors to the authorities.
In case of an error in the registration of the annual financial data, companies have the right to change the period of the submission of annual tax returns from monthly to quarterly declarations and vice versa, through their account on the website.
The authority said that firms failing to meet the deadline will be subject to a fine of between 5 and 25 percent of the value of tax they were due to pay.
This is in addition to a fine for the delayed payment of tax due, which is equivalent to 5 percent of the value of the unpaid tax per month or part of the tax that was unpaid.
GAZT calls on Saudi companies to submit tax returns
GAZT calls on Saudi companies to submit tax returns
- The authority said that firms failing to meet the deadline will be subject to a fine of between 5 and 25 percent of the value of tax they were due to pay
Saudi Post issues commemorative stamp to mark Al-Faw’s UNESCO recognition
RIYADH: Saudi Post has issued a SR3 ($0.79) commemorative stamp to celebrate the registration of Al-Faw Archaeological Area on the list of UNESCO World Heritage Sites, making it the eighth Saudi site on this prestigious list.
Located south of Riyadh at the junction of a vast plain and the Tuwaiq mountain range, Al-Faw is strategically positioned along ancient trade routes connecting the southern Arabian Peninsula to its center and east.
The area in Wadi Ad-Dawasir, at the intersection of the Empty Quarter desert and the Tuwaiq mountain range, is home to almost 12,000 archaeological remains and has a history of human habitation stretching back more than 6,000 years.
The site features a landscape shaped over millennia by human interaction with the environment and which was abandoned in the 5th century AD owing to depleted water sources.
The commemorative stamps issued honor significant national and international events, highlighting key chapters of Saudi history making them collectible for philatelists, researchers, and heritage enthusiasts, the Saudi Press Agency reported.
UNESCO, while recognizing the site last year, has said the site was a strategic point on the ancient trade routes of the Arabian Peninsula, but was abruptly abandoned around the fifth century.
Archaeological remains uncovered at the site range from prehistoric times to the late pre-Islamic era, testifying to successive occupations by three different populations.
Features include paleolithic and neolithic tools, tapered structures, cairns and circular constructions, the sacred mountain of Khashm Qaryah, rock carvings, funeral cairns, an ancient water management system, and remains of the city of Qaryat Al-Faw.
Other Saudi sites on the UNESCO Heritage List are Al-Hijr (2008), At-Turaif in Diriyah (2010), Historic Jeddah (2014), rock art in the Hail Region (2015), Al-Ahsa Oasis (2018), Hima Cultural Area (2021), and Uruq Bani Maarid protected area (2023).
