ZATCA Encourages Taxpayers to Seize Opportunity: Deadline Approaching for Fines Cancellation and Penalties Exemption Initiative

KSA, February 04, 2024 :ZATCA is urging all taxpayers to capitalize on the "Cancellation of Fines and Exemption of Penalties Initiative" before its conclusion on June 30, 2024. The initiative encompasses fines such as those for late registration, payment, and filing returns under various tax laws, along with fines related to VAT compliance. To avail themselves of the exemption, taxpayers must register, submit any outstanding returns, settle principal tax debt, and can request installment plans if needed. 

It's crucial to note that the initiative excludes penalties related to tax evasion and fines incurred before its implementation. Detailed guidelines are available on ZATCA's website. Act promptly to benefit from this opportunity before the deadline on June 30.

Source : https://zatca.gov.sa/en/Pages/default.aspx