https://arab.news/yx4nv
RIYADH: The General Authority for Zakat and Tax (GAZT) has implemented an extensive inspection campaign to shops in the retail sector, the Saudi Press Agency reported.
It aims to ensure the commitment of shop owners to the value-added tax (VAT) system and the implementation of its regulations, and the non-implementation of the tax’s updated value before schedule.
In cooperation with the Ministry of Commerce, GAZT has implemented 1,335 inspection visits, with the participation of all the authorities’ branches in different regions since the announcement of increasing the VAT to 15 percent from 5 percent on May 11.
The number of shops penalized for tax violations has reached 421, and violations varied from not keeping records, documents and tax invoices to failing to collect VAT.
GAZT called on owners of commercial enterprises to commit to the scheduled date to implement the new VAT of 15 percent on products and services, starting July 1, 2020. It stressed that its inspection campaigns will continue in markets and shops to ensure the commitment of people responsible for tax regulations in the Kingdom.
GAZT called on all consumers to report any enterprises that implement the new VAT before its due date on the authority’s official website gazt.gov.sa through the unified number 19993 or the VAT’s special app.
GAZT had issued an instruction manual for transitional provisions related to increasing the original VAT to 15 percent, available on the authority’s official website.