Saudi Arabia Extends Tax Amnesty Initiative for VAT and Excise Tax Violations until 2024

• The Zakat, Tax and Customs Authority of Saudi Arabia (ZATCA) has extended the tax amnesty initiative to December 31, 2024
• The initiative waives fines and penalties related to value added tax (VAT) and excise tax
• The initiative applies to fines for late registration, delayed payment, late filing of tax returns, amendments in VAT returns, violation of VAT field detections, and violation of electronic invoicing regulations
• Excluded fines include those paid before June 1, 2022, tax evasion fines, and fines associated with returns due after July 1, 2024
• To benefit from the tax amnesty, taxpayers must register with ZATCA and submit outstanding returns along with payment of tax liability or apply for an installment plan.

Source: kpmg.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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