ZATCA Urges Taxpayers to Benefit from Fines Cancellation Initiative Before Deadline

KSA, 8 May, 2024 :  The Zakat, Tax and Customs Authority (ZATCA) has urged taxpayers to take advantage of the "Cancellation of Fines and Exemption of Penalties Initiative" before its deadline on June 30, 2024.

Under the initiative, fines for late registration, payment, and filing of returns across all tax laws are covered, along with fines related to VAT returns correction and violations of VAT field control regulations.

To benefit from the exemption, taxpayers must be registered with the tax system, submit all previously unsubmitted returns, and settle all associated principal tax debts. They can also request installment plans from ZATCA, provided applications are made during the initiative's duration.

However, penalties related to tax evasion violations and fines paid before the initiative's effective date are excluded.

ZATCA has provided a simplified guideline on its website outlining key aspects of the initiative, including eligible penalties, conditions for exemption, and steps for installment payments and addressing field control violations.

Taxpayers are encouraged to utilize the initiative's extension until June 30, 2024.

Source : www.zatca.gov.sa