ZATCA says 41,400 companies registered for VAT

The Zakat, Tax and Customs Authority (ZATCA) stated that the total number of companies and individuals registered for value-added tax (VAT) reached 41,4500, Al Eqtisadiah newspaper reported.

The authority indicated that it is committed to applying the tax regulations, including imposing penalties on violators.

The penalty of failing to register for VAT during the statutory period is SAR 10,000, ZATCA
 

source: Argaam