Saudi Arabia 4,700 VAT violations
- Apr 22, 2018 | Richard Asquith
Following the 1 January 2018 launch of 5% VAT in Saudi Arabia, over 4,700 violations have been found from 12,578 audits of businesses.
The figures come from the General Authority of Zakat and Tax (GAZT). Sectors targeted included retail malls, consumer electronics, pharmacies and gold stores. Most of the non-compliance errors were failure to VAT register for the launch of the new indirect tax. The remainder included not issuing VAT invoices or overcharging on the 5% VAT rate.
Saudi Arabia VAT news
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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax
Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara