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All the businesses registered under Saudi VAT are required to file a periodical statement known as VAT returns. The businesses should include the details of sales, purchases, Output VAT, Input VAT etc. in the format as prescribed by the General Authority of Zakat and Tax (GAZT). The standard VAT return period applicable to most of the businesses in Saudi Arabia is quarterly VAT return i.e. three calendar months. Also, certain type of businesses are requested to file the VAT return on a monthly basis.
The last date to file the return will be the last day following the end of the VAT return period. For example, if the VAT return period is January-March, the last date to file the VAT return will be 30th April. If the month’s last day (due date) falls on a non-working day, taxpayers are still liable to submit their VAT and pay any liabilities by that day.
The applicability of monthly return and quarterly returns are classified based on the annual turnover achieved by the business. The following table provides the details of return filing frequency - Whether quarterly or monthly and the last date to file the Saudi VAT returns.
|Type of Businesses (Annual Turnover in SAR)||Return Filing Frequency||First Return Filing Period||First Return Filing Due Date||Second Return Filing Period||Second Return Filing Due Date|
|187,500 to 375,000||Quarterly VAT Returns||JAN-MAR’18||30th April, 2018||APR-JUN’18||31st July, 2018|
|375,000 to 1 Million||Quarterly VAT Returns||JAN-MAR’18||30th April, 2018||APR-JUN’18||31st July, 2018|
|1 Million to 40 Million||Quarterly VAT Returns||JAN-MAR’18||30th April, 2018||APR-JUN’18||31st July, 2018|
|More than 40 Million||Monthly VAT Returns||JAN’18||28th Feb, 2018||FEB’18||31st March,2018|
As mentioned in the above table, the first return in Saudi VAT regime is filed by the larger businesses having an annual turnover of above 40 Million on 28th Feb, 2018 and the return frequency applicable to them is monthly VAT return.
For all the businesses whose annual turnover is less than 40 Million, quarterly VAT return is applicable. The last day to file quarterly returns is the last day of the following month of the VAT return filing period. As mentioned in the table, the last day to file the first quarterly return was 30th April, 2018 and the last day to file the next quarterly VAT return for the period of APR-JUN’18 is 30th June, 2018.
The timely filing of VAT return is one of the most important activities in the process of achieving the VAT compliances in Saudi Arabia. On the basis of annual turnover, businesses need to identify the return filing frequency and the applicable last date such that the returns can be prepared and submitted on time. Otherwise, late filing penalties will be levied for taxpayers who didn’t submit their returns by the due date and late payment penalties will be levied for taxpayers with unpaid tax after the due date.