GAZT Adopts Pillars of National Transformation Program

General Authority of Zakat and Tax (GAZT) looks forward to being one of the best tax ‎departments around the world and achieving the desired successes in the National ‎Transformation Program “NTP”, which aims to achieve financial balance between revenues and ‎expenditures in 2020. NTP includes four initiatives for GAZT:‎

  • Excise tax.
  • Value added tax.
  • Obtaining establishment data through relevant government agencies.
  • Enforcing the new Zakat Collection Law.

GAZT has launched excise tax project and already started collecting its revenues and supporting ‎its enforcement by developing the Law and Implementing Regulations; designing work ‎procedures; providing and implementing technological system, awareness and communication ‎and following up partners to ensure their commitment to fulfill their statutory duties.‎

 

In addition, GAZT has developed its potentials to launch and manage VAT, assist eligible ‎establishments to participate with the government in supporting tax management and setting ‎basic requirements and facilitate reaching tax readiness for establishments. GAZT has also ‎approved VAT Law and Implementing Regulations, after the publication of the Implementing ‎Regulations of the official VAT Law to seek public consultation; completed the public ‎consultation; reviewed the Implementing Regulations with the Ministry of Finance and the ‎Customs Authority; participated with the most important government agencies such as (SAMA, ‎Ministry of Labor and Social Development, Ministry of Housing, Ministry of Finance, etc.) in the ‎alignment of open policy positions and obtained establishment data from relevant government ‎agencies.‎


As the date of introducing VAT by 5% in KSA draws nearer on 1 January 2018, GAZT ‎continues implementing its plans to help establishments adopt value added tax and apply the ‎required procedures smoothly through the achievement of high readiness to do so, including: the ‎launch of GAZT official VAT website VAT.GOV.SA, in order to provide a wide range of tools ‎and information which are considered a supporting reference for establishments to achieve ‎readiness, and provision of VAT helpline (19993) in order to answer all quires relating to the ‎application of VAT.

 

Currently, GAZT is developing the new Zakat Collection Law in preparation for submission, ‎promulgation and application order to restructure the procedures of addressing the problems with ‎taxpayers arising from multiple fatwas or misinterpretation of the laws and procedures of ‎calculating zakat or tax base. ‎