Riyadh: Saudi Arabia has announced major tax fine exemptions. Zakat, Tax and Customs Authority in the country announced the cancellation of fines and further exemptions for taxpayers.
The fine cancellations include for late payment, VAT irregularities and organisations filing late returns. The initiative named ‘Cancellation of Fines and Exemption of Financial Penalties will end on December 31, 2023.
The authority has also clarified that the fines covered by the exemption decision include fines for:
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Late registration in all tax systems
Late payment
Late filing of returns fines in all tax systems
Fines to correct VAT returns
It also covers fines for violations of VAT field control related to applying the e-invoicing regulations and other VAT general regulations.
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