- The “Cancellation of Fines and Exemption of Penalties Initiative” in Saudi Arabia has been extended until June 30, 2024.
- The initiative covers fines related to late registration, late payment, late filing of returns, and violations of VAT field control.
- Businesses will not be penalized for these actions if they fulfill the conditions set for each penalty.
- The grace period was originally declared in June 2022 for 6 months and has been extended twice.
- Taxpayers can benefit from the initiative until June 30, 2024.
- More details can be found in the guideline published by the ZATCA.
Source: sovos.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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