https://arab.news/9q3dv
RIYADH: The Saudi Zakat, Tax and Customs authority has shared a guide for an initiative by the Ministry of Finance to apply for the exemption of fines before the end of this year.
The ministry said in the guide that this initiative aims to mitigate the financial implications resulting from COVID-19 that affected establishments.
The seven-month initiative started on June 1, 2023 and finishes on Dec. 31, 2023.
The guide discusses the exemption from fines resulting from late registration in all tax laws and regulations but mentions that conditions for taxpayers who could benefit from the initiative still apply.
It includes the exemption from delayed payment fines and overdue tax return submission, exemption from the VAT return correction penalty and several more.