Dear Sir, i have got one question. If company in KSA got several projects. Among of several projects, one project is executed as Consortium with other party. But company had not registered in ZATCA system and not file Consortium/Indormation return within 60 days. But company files its own return annually within tax period and disclose all the revenue (Including that consortium project) and report its profit or loss. In such case, what penalty will be levied? and what is ZATCA usual way to make assessment? Will imposing deemed assessment because of Consortium return is not filed?
Dear Sir, i have got one question. If company in KSA got several projects. Among of several projects, one project is executed as Consortium with other party. But company had not registered in ZATCA system and not file Consortium/Indormation return within 60 days. But company files its own return annually within tax period and disclose all the revenue (Including that consortium project) and report its profit or loss. In such case, what penalty will be levied? and what is ZATCA usual way to make assessment? Will imposing deemed assessment because of Consortium return is not filed?
Hi - will connect you separately to answer this query