ZATCA Urges Taxpayers to Take Advantage of Fine Cancellation Initiative Before December 2024

KSA, 02 October, 2024 :  The Zakat, Tax and Customs Authority (ZATCA) is urging taxpayers to take advantage of the "Cancellation of Fines and Exemption of Penalties Initiative," which will conclude on December 31, 2024. This initiative allows taxpayers to exempt themselves from fines related to late registration, late payments, late filing of returns, and VAT violations.

To benefit from the exemption, taxpayers must be registered in the tax system, submit all previously unfiled returns, and pay any outstanding principal tax debt. ZATCA also offers installment plans for taxpayers who apply while the initiative is active, provided all due installments are paid on time. However, penalties related to tax evasion and fines paid before the initiative began are not eligible for cancellation.

Source : www.zatca.gov.sa