New SAR Requirement for the 2024 Fiscal Period

The Tax Administration Service (SAR) has issued a new requirement that will come into effect starting with the 2024 fiscal period: 

New Requirement: The “Financial Statement Report” must be submitted before the Income Tax Return Declaration. 

What does the report include?
• Balance Sheet
• Profit and Loss Statements 

Submission Deadlines:
• From January 1 to April 30 of each year.
• For special fiscal periods: three months after the fiscal year-end. 

️ Important: Failure to submit the report will prevent Income Tax Return filing and may result in tax non-compliance. 

For more information, contact us at info@blplegal.com