The Tax Administration Service (SAR) has issued a new requirement that will come into effect starting with the 2024 fiscal period:
New Requirement: The “Financial Statement Report” must be submitted before the Income Tax Return Declaration.
What does the report include?
• Balance Sheet
• Profit and Loss Statements
Submission Deadlines:
• From January 1 to April 30 of each year.
• For special fiscal periods: three months after the fiscal year-end.
⚠️ Important: Failure to submit the report will prevent Income Tax Return filing and may result in tax non-compliance.
For more information, contact us at [email protected]
