By George Campbell
Senior Director – Head of Tax at Keypoint
Since the introduction of Value Added Tax (VAT) in the Kingdom of Saudi Arabia, the Zakat, Tax and Customs Authority (ZATCA – formerly GAZT) has evolved significantly. With a growing number of increasingly skilled officers, the tax authority is proactively initiating field audits and inspecting taxpayers’ books.
Many Saudi taxpayers are still coming to terms with the full technical impact of VAT and how it applies to their operations, and the potential to be audited and assessed by ZATCA is of concern to management and key decision makers. With this in mind, I have outlined below a number of key factors for taxpayers to consider when interacting with ZATCA – whether in relation to handling requests for information, responding to assessments, or resolving disputes and differences of opinion.
Source: LinkedIn
