Riyadh – Mubasher: The deadline for companies which their annual revenues exceed SAR 1 million to register in the value added tax (VAT) will be Wednesday, 20 December, said on Tuesday the General Authority of Zakat and Tax (GAZT).
Sanctions will be imposed on the firm that did not register starting from Thursday, 21 December, the GAZT added.
GAZT set SAR 10,000 fine on the unregistered firms, in addition to suspending some of governmental services.
Saudi Arabia will start putting VAT into effect on 1 January 2018.
On Monday, the GAZT said that the number of enterprises that registered in VAT exceeded 80,000.
