- ZATCA has released an updated guide titled “Cancellation of Fines and Exemption of Financial Penalties” to provide relief to taxpayers who have faced financial challenges due to Covid-19.
- The new guide covers seven months, starting from 1 June 2023, and ending at the end of this year.
- Taxpayers can request exemptions from unpaid fines related to late registration, late payment, late submission of tax returns, penalties for VAT return corrections, and fines arising from on-site detection of violations of VAT and e-invoicing.
- The updated guide requires taxpayers to properly disclose tax obligations or submit an application for installments to claim an exemption.
- The resolution will be in effect for seven months, extending from 1 June 2023 until 31 December 2023.
- Taxpayers can contribute to their own economic recovery and overall economic resilience by availing themselves of the exemption of fines.
- ZATCA may not extend the amnesty beyond 31 December 2023, and it is unlikely that the amnesty will become a permanent feature of its tax policy.
Source Aurifer
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