RIYADH: Saudi taxpayers can now benefit from penalty exemptions with the introduction of a new initiative by the Kingdom’s Zakat, Tax, and Customs Authority.
Running until June 30, 2024, this effort aims to provide relief to taxpayers under the tax systems, offering exemptions on penalties related to late registrations, payments, and submissions across all platforms.
Furthermore, the initiative extends to cover penalties for correcting value-added tax declarations, field inspection violations related to electronic invoicing, and other general VAT provisions, as announced by the authority in a statement.
To take advantage of the exemptions provided by this initiative, taxpayers must be registered in the system, submit all required declarations to the authority, and settle the full principal debt associated with these statements.
The plan allows installment payments, provided that the request for such an arrangement is submitted within the initiative’s effective period, and all amounts are paid according to the approved timetable by the authority.
However, this program does not cover the penalties associated with tax evasion violations and those paid before its initiation.
The authority has released a simplified guide on its website, offering a comprehensive explanation of the initiative. This outlines the types of penalties covered, conditions for exemption, and steps for installment payments of financial dues.
Its purpose is to equip taxpayers with the essential information needed to comprehend and take advantage of the program. Additionally, the guide includes details on field inspection violations covered by the initiative, along with illustrative examples for better understanding.
The authority also urged taxpayers to visit the authority’s website and contact its call center or digital accounts to have access to further details.
