Approved by Governor of General Authority of Zakat And Income Tax
In collaboration with the general authority of Zakat and Income to implement KSA vision 2030 and help the economical, industrial, service and other corporations subject to VAT, the general authority of Zakat and Income has approved Ultimate Solutions software as fully in compliance with to the new KSA VAT.
Ultimate Solutions Riyadh Branch Manager had met Eng. Suhail Ben Mohammed Abanemi, the General Authority Governor and Eng. Mohammed Al-Shamari, the IT Manager at General Authority of Zakat & Income and provided the authority experts with detailed technical presentations for Ultimate Solutions software that help the taxpayers’ to fulfill their liabilities.
The agreement made by and between Ultimate Solutions and the Authority indicates that the auto accounting solutions of Ultimate Solutions conform to in force provisions of VAT regulations in KSA and help taxpayers to carry out the accounting entries and prepare the tax returns automatically.
It is worth mentioning that KSA applies the lowest VAT rates in the world which is 5% from 1st January 2018. The General Authority of Zakat and Income is responsible for applying the VAT in collaboration with all related parties.