Commerce Ministry urges companies to submit 2024 financials

The Ministry of Commerce called on companies to submit their 2024 financial statements no later than June 30, 2025, to avoid financial penalties in accordance with the Companies Law.

Companies should prepare their statements at the end of each fiscal year in line with the accounting standards approved in the Kingdom, the ministry clarified, adding that the financials should be submitted within six months of the fiscal year’s end, in accordance with Article 17 of the Companies Law.

The ministry noted that the responsibility for submitting the statements lies with the company’s chairman, general manager, or chairman, depending on the company's legal structure.