Contracts Reporting

Taxpayers are required to notify the GTA of contracts that they enter into with residents and non-residents (subject to certain monetary thresholds) within 30 days of signing such a contract. The New Tax Law and Regulations have introduced a penalty per the contract that is not reported as per statutory requirements. With the introduction of Dhareeba, contract notifications are also required to be submitted in Dhareeba if the following criteria are met:

  • Contracts concluded with residents, or nonresidents who have a permanent establishment in the State, if the value of the contract is at least (200,000) two hundred thousand Riyals for service contracts, and (500,000) five hundred thousand Riyals for contracting contracts and supply and service contracts.
  • Contracts concluded with nonresidents who do not have a permanent establishment in the State, regardless of their value.

We will assist you in:

  • The preparation and submission of the Contract Reporting declaration to the General Tax Authority (GTA).

    01

    What We Do

    Vtandem LLC is growing at impressive and yet increasing speed. In order to involve them right away and offer clients a broader view of what Vtandem LLC is able to deliver on a global scale.

    02

    Our Approach

    We understand that each client is unique and hence, we are open to different engagement models. We have three most frequently employed engagement models by our clients.

    03

    Our Mission

    We are the leading, network of professional service providers with a local service approach. Our commitment to support and inspire small and medium-sized clients with a global reach.

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