General Authority for Zakat and Tax (GAZT) updated its website this week with a new form for registering contracts. As per the guidelines issued along with the update on the official k website (gazt.gov.sa), the e-service enables taxpayers to file contracts with commercial establishments or government agencies. The laws and regulations in the Kingdom of Saudi Arabia require disclosure of all contracts exceeding the value of 1,00,000 riyals, which enables the authority to verify their authenticity.
The user must be registered on the website where he needs to sign in and inscribe a new contract through the contract disclosure service. Details of the contract and partner, schedule of expenses and payments, the status of approval of contract are a few elements that are essential to its execution. GAZT has released the Service guide in Arabic.
You can access Law including Guidelines, Cabinet & FTA Decisions, Public Clarifications, Forms, Business Bulletins for all taxes (Vat, Excise, Customs, Corporate Tax, Transfer Pricing) for all GCC Countries in the Law Section of GCC FinTax.