However, VAT registration for businesses that have a turnover exceeding 187,500 SAR but not exceeding 375,000 SAR is fully optional.
Most of the businesses prefer not to register, because to save the additional costs and compliance activities that came with the VAT registration. However, it is important that such businesses should know the benefits of VAT registration.
Earn back taxes on purchases
VAT refund paid for making zero point supplies
It provides the enterprise reliability
Avoid penalties for not enrolling
Therefore, it is recommended that small and medium enterprises evaluate many benefits of VAT registration. The benefits of registration are enormous, with the need to take VAT registration, bring additional compliance costs, and keep accurate records and make regular returns.
For more information on VAT Registration, please send an email to [email protected] or visit our website at www.manalpro.com/tally.