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His Excellency the President of King Khalid University, Prof. Falleh bin Raja Allah Al-Sulami, issued an administrative decision which stated establishing a “Tax Accounting Unit” at the General Administration of Self-Generated Resources. The Unit aims to develop tax accounting policies, and what is related to the value-added tax of the Administration and the entities affiliated with the University’s Agency of Business and Knowledge Economy.
The Vice President of Business and Knowledge Economy Prof. Abdul Latif bin Ibrahim Al-Hadithi, explained the Unit is working on keeping up with the practice in managing and developing accounting procedures related to VAT according to the regulations the General Authority of Zakat and Income, in a way that achieves financial goals and ensures the integrity of accounting procedures in accordance with the current and future data. He thanked His Excellency the University President for his support in establishing this unit.
On the other hand, the General Supervisor of the General Administration of Self-Generated Resources Mr. Mohammed bin Awad Al-Shahrani, explained the Unit aims to all tax treatments for taxable supplies, and receiving various inquiries from university authorities in this regard. It will be responsible for registering in the tax system and following up the processes of entry, disclosure and collection of various due taxes.
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