The Kingdom of Saudi Arabia (KSA) General Authority of Zakat and Tax (GAZT) has issued a press release calling on businesses which have annual revenues exceeding SAR 375,000 to register for VAT before 20 December 2018.

According to Article 79(9) of the VAT Implementing Regulations of KSA, businesses whose annual supplies exceed the mandatory registration threshold of SAR 375,000 but do not exceed SAR 1,000,000 are not obligated to register for VAT until 1 January 2019.

Businesses affected are reminded that VAT registration applications must be submitted to GAZT by 20 December 2018.

For more information about VAT inquiries and treatment, please contact our team on [email protected]