KSA, 30 December, 2024 : The Zakat, Tax, and Customs Authority (ZATCA) has extended the Cancellation of Fines and Exemption of Financial Penalties Initiative for taxpayers under all tax laws until 30 June 2025. The initiative provides relief from penalties related to late registration, payment, and filing of returns. It also covers VAT correction fines and violations of e-invoicing regulations.
To qualify, taxpayers must register under applicable tax laws, submit overdue returns, and pay outstanding principal tax debts. They can request installment plans during the initiative, provided payments adhere to ZATCA-approved schedules. The initiative excludes penalties for tax evasion, paid fines before its effective date, and penalties for returns due after 31 December 2024.
ZATCA encourages taxpayers to consult the initiative’s details through the simplified guideline available on its website. The guideline outlines eligible penalties, conditions for exemptions, and steps for installment plans.
Source : www.zatca.gov.sa/enRelated Posts
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