GDT Urges Suppliers To Secure Licences
In a bid to enhance tax revenue, the General Department of Taxation (GDT) yesterday called on all goods and services suppliers in the country to apply for a permit by July 31.
GDT stressed that a significant number of suppliers operate without a license, which is against the law.
“To enhance the efficiency of existing regulations and help suppliers have a proper tax declaration base on their business activity, the General Department of Taxation would like to remind all goods and services suppliers to apply for a permit by July 31,” the GDT said in a statement.
According to GDT, while the application is being processed, the companies will be recognised as legal entities. Those that do not apply for a permit before the July deadline will be punished according to the law, GDT said.