The Zakat, Tax and Customs Authority decided to increase the duration of the initiative to cancel fines during the month of Ramadan. This is with the aim of reducing the financial burden on taxpayers and enabling them to benefit from this extended period for tax settlement.
Initiative to cancel fines during Ramadan
It is expected that taxpayers subject to tax regulations will be exempted from financial penalties until June 30, 2024, instead of ending on December 31, 2023.
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This initiative aims to enable individuals and tax companies to settle their tax positions in an easy and convenient way, and to motivate them to comply with tax controls and systems.
It also aims to calm the state of economic tension that the country has witnessed as a result of the spread of the Corona virus pandemic, and the fines included in the initiative include:
Delay in registration in tax systems.
Late payment.
Delay in submitting tax returns.
Correcting errors in value-added tax returns.
Fines for field control violations related to electronic invoices and value-added tax.
It is worth noting that this initiative comes within the framework of the Saudi government’s efforts to support the economic sector and stimulate commercial activity in the country.
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2024-03-15 22:38:02
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