GTL Summary:

Article 72 of the KSA Income Tax Law establishes the taxpayer's right to a refund for any overpayment of tax. The provision mandates that the excess amount paid must be returned to the taxpayer. Furthermore, the taxpayer is entitled to financial compensation for the period the funds are held by the tax authority. This compensation is calculated at a rate of 1% for every 30-day period of delay. The calculation period for this compensation commences 30 days after the taxpayer formally submits their claim for the refund and concludes only upon the actual receipt of the refunded amount.