Arab News, Wednesday, Mar 24, 2021 | Shaaban 10, 1442
Saudi Arabia issues 40,500 fines for tax violations in first quarter
Saudi Arabia:
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 and reduce public sector finance reliance on oil revenues.