Article 58 - Tax Period ^[92]

For Taxpayers whose annual value of Taxable Supplies exceeds forty million (40,000,000) SAR during the previous twelve months, the Tax Period shall be monthly.

For all other Taxpayers, the standard Tax Period shall be three months.

A Taxable Person whose annual value of Taxable Supplies does not exceed the value in the first Paragraph may submit an application to use a monthly Tax Period.

Upon approval of an application by a Taxable Person to use a monthly Tax Period, the Authority will issue a notification including the effective date of the change. The effective date will be the start of the next Tax Period following that in which approval is granted.

A Taxable Person who has used the monthly Tax Period for two years may submit an application to use a Tax Period of three months, provided that Taxable Person's value of annual Taxable Supplies during the last twelve months does not exceed the value prescribed in the first Paragraph of this Article at the time of the application.

Upon approval of an application by a Taxable Person to use a three-month Tax Period, the Authority will issue a notification including the effective date of the change. The effective date will be the start of the next Tax Period following that in which approval is granted.

In cases where the Authority directs the Taxable Person to use a certain Tax Period it will issue a notification and the effective date of such Tax Period.