Al-Azem and Al-Sudairy CPA’s & Consultants — member of Crowe Horwath International — have organized specialized seminars on the subject of value added tax, which will be applied in Saudi Arabia starting on the Jan. 1. In these seminars, the concept of value added tax, its regulations and provisions, penalties and fines resulting from non-compliance were highlighted in accordance with the laws prepared by the General Authority for Zakat and Tax in the presence of selected business men and women and nominated professionals, consultants and company owners who need to know are keen to learn more about VAT.

The value added tax has a great economic impact in terms of price control and assist the business sector in governing their business and control the records of their facilities, thus supports increasing knowledge, awareness and understanding of the business, which is an important strategic partner in the success of the process of collecting value added tax

Saad Al-Azem commented saying: “Legal Accounting Offices are one of the important elements that benefit the organizations to control their work. We believe in the role of these offices, therefore, we initiated these seminars to benefit the business sector understanding the laws and regulations related to value added tax for their effective role in moving the wheel of growth reaching the aspirations of the 2030 vision.”

The seminars were held in Riyadh and in the Western Region in Jeddah with more than 700 participants. Yet, another seminar will be held in the Eastern Province of Al Khobar before the end of this year. — SG