VAT’s UP

ZATCA Extends Cancellation of Fines and Exemption of Penalties Initiative for Taxpayers until June 2024

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Riyadh January 06 2024:

The “Cancellation of Fines and Exemption of Penalties Initiative” in Saudi Arabia has been extended until June 30, 2024. The initiative covers fines for late registration, late payment, late filing of returns, fines to correct VAT returns, as well as fines for violations of VAT field control related to applying the e-invoicing regulations and other general regulations.

ZATCA has invited taxpayers to view the details of the initiative through the simplified guideline available on its website, which includes a detailed explanation of the most important aspects of the decision, such as the types of penalties that are included, the conditions for benefiting from the exempt fines and the steps for paying financial dues in installments, as well as introducing the field control violations.

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