The Saudi government is urging businesses to file their tax returns on time to avoid paying fines that will be charged every 30 days after the deadline.

The Zakat, Tax and Customs Authority (ZATCA) has advised companies in the kingdom that are subject to withholding tax (WHT) that they have until January 10, 2024 to file their tax returns for December, the Saudi Press Agency (SPA) reported on Thursday.

Those who fail to meet the deadline are liable to pay a 1% fine for unpaid taxes every 30 days after the due date.

The withholding tax is levied on the total income of non-resident establishments that provide services in Saudi Arabia, as specified in Article 68 of the Income Tax Law and Article 63 of its Implementing Regulations.

(Writing by Cleofe Maceda; editing by Brinda Darasha)