Statutory Timeline in Saudi Arabia – Key Compliance Deadlines

Understanding statutory timelines in Saudi Arabia is crucial for businesses to maintain compliance with financial and regulatory requirements. Missing deadlines can lead to penalties, legal issues, and reputational damage. This article provides an overview of key statutory timelines that businesses operating in the Kingdom must adhere to.

Financial Reporting Deadlines

VAT Returns: Monthly and quarterly VAT returns must be filed with the Zakat, Tax and Customs Authority (ZATCA) within 30 days after the end of the tax period.
Corporate Tax Returns: Companies must file their annual corporate tax return within 120 days from the end of the fiscal year.
Zakat Filing: Businesses subject to zakat must submit their declarations within 120 days after the fiscal year ends.

Labor and Social Insurance Compliance

GOSI Contributions: Employers must submit their General Organization for Social Insurance (GOSI) contributions monthly, due by the 15th of each month.
Work Permit Renewals: Work permits for expatriate employees must be renewed annually to avoid fines and work disruptions.

Commercial Licensing and Legal Requirements

CR Renewal: The Commercial Registration (CR) must be renewed annually through the Ministry of Commerce.
Saudization Compliance Reports: Companies must regularly submit reports demonstrating their compliance with Saudization quotas.
By staying ahead of these deadlines, businesses can ensure seamless operations, avoid financial penalties, and maintain good standing with Saudi regulatory authorities. Partnering with professional advisors helps businesses stay compliant with evolving regulations.

Contact us today at +966-537073970 or info@aldulajiancpa.com to ensure your business meets all statutory deadlines.