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Saudi Arabia Offers exemptions on Tax Fines

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Riyadh March 11 2024:

Saudi Arabia offers exemptions on tax fines and the Saudi Authorities has urged taxpayers to make use of waivers on fines and penalties in the Kingdom before July. Taxpayers in Saudi Arabia have a little over three months to avoid paying tax-related fines and other financial penalties, authorities said.

The Zakat, Tax and Customs Authority (ZATCA) urged all those who are required to pay taxes to take advantage of the government’s “cancellation of fines and exemption of financial penalties” initiative, which expires on June 30, 2024, according to the state-owned Saudi Press Agency.The fines and penalties are related to late registration, late payment, late submission of tax returns and incorrect VAT returns, among others.

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