Saudi Arabia issues 40,500 fines for tax violations in first quarter

Saudi General Authority for Zakat and Tax said that the fines related to a number of different kinds of violations

Arab News

Saudi officials have issued some 40,500 fines for tax violations so far this year.

The Saudi General Authority for Zakat and Tax said that the fines related to a number of different kinds of violations, Al Arabiya reported.

There are more than 1.3 million registered taxpayers in the Kingdom according to the authority’s website.

Governments worldwide are cracking down on tax evasion after public finances took a hammering during the pandemic.

Some Gulf states, including Saudi Arabia, have started to introduce value added tax to boost revenues

ARAB NEWS

Some Gulf states, including Saudi Arabia, have started to introduce value added tax to boost revenues and reduce public sector finance reliance on oil revenues.

Story Courtesy : Arab News

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