The Zakat, Tax and Customs Authority (‘ZATCA’) has re-launched an initiative to exempt or abolish fines and financial penalties imposed on taxpayers on account of lapse in fulfilling several procedural aspects related to taxes applicable in the Kingdom of Saudi Arabia.
The types of taxes included in this initiative are Excise Tax, Value Added Tax (including E-Invoicing), Real Estate Transaction Tax, Withholding Tax and Corporate Income tax. The exemption will remain applicable for a 6-month period starting from 1 June 2022 till 30 November 2022.
Source PwC
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