|Update:||Compliance Alert - ZATCA grants a further extension of penalties related to several tax matters|
The Saudi Zakat, Tax, and Customs Authority (ZATCA) has once more postponed fines and penalties against taxpayers for tax violations such as VAT filing, electronic invoicing, and more.
ZATCA launched a penalty exemption previously considering the COVID-19 pandemic. This was launched once again as part of a tax amnesty program and will last until 31 December 2023.
ZATCA has published a simplified guide for the cancellation of fines and exemptions of financial penalties in English. The guide details what exemptions and fines apply to the amnesty program and period.
The essential elements in the simplified guide for the exemptions from fines include:
Exemptions for VAT return violations;
Exemptions for late registration for all tax systems and laws;
Exemptions for correcting or amending VAT returns; and
Exemptions for late payments and filing tax returns in tax systems.
The announcement from ZATCA can be found here.