The Zakat, Tax, and Customs Conference 2024, set to take place in Riyadh on December 4-5, is a crucial event aimed at strengthening compliance with zakat, tax, and customs regulations in Saudi Arabia. Compliance with these financial obligations is vital for maintaining a sustainable and balanced economy. Through panel discussions and workshops, the Zakat, Tax and Customs Authority (ZATCA) will emphasize the importance of compliance in promoting fair competition and creating a healthy economic environment. By encouraging compliance among investors, traders, and entrepreneurs, the conference aligns with the goals of Saudi Vision 2030, which aims to diversify and enhance the country’s economy.
In order to educate taxpayers and facilitate compliance, ZATCA provides more than 130 guidelines that explain zakat, tax, and customs terms in detail. These guidelines offer essential clarifications to individuals and businesses, helping them understand their obligations and requirements. Key topics at the conference will include tax registration mechanisms and the submission of returns. Workshops will guide participants through the registration process and demonstrate efficient filing practices to improve transparency and ease compliance. E-invoicing will also be a focus of the conference, as a modern solution for simplifying accounting and tax filing processes, making compliance efforts more streamlined and effective.
Ensuring tax compliance is crucial for promoting fair competition and transparency in the economic landscape, ultimately boosting local and international investor confidence. By implementing clear and transparent tax laws, Saudi Arabia can reassure foreign investors and attract more investment to support the country’s growing economy. The conference aims to provide a platform for officials and experts to explore innovative solutions and address current and future challenges related to zakat, tax, and customs. Under the leadership of the Minister of Finance and Chairman of ZATCA’s Board, Mohammed bin Abdullah Al-Jadaan, the conference will bring together key stakeholders to shape the future of economic sustainability in the region.
Overall, the Zakat, Tax, and Customs Conference 2024 in Riyadh will play a pivotal role in reinforcing compliance with financial regulations in Saudi Arabia. By educating taxpayers, providing guidance on registration and filing processes, and promoting innovative solutions such as e-invoicing, the conference aims to enhance transparency, promote fair competition, and create a stable business environment. With the support of government officials and industry experts, the conference will serve as a platform for stakeholders to collaborate and shape the future of economic sustainability in the region, in alignment with the goals of Saudi Vision 2030.
