Kingdom of Saudi Arabia
Saudi Arabia launches tax amnesty schemes
The Zakat, Tax and Customs Authority (ZATCA) announced an initiative to ease the blow of the COVID-19 outbreak on businesses by cancelling fines and exemption from financial penalties for all taxpayers, starting June 1, 2022, and ending November 30, 2022. According to the Authority, the fines covered by the exemption include fines for late registration in all tax systems, late payment, late filing of returns fines in all tax systems, and fines to correct VAT returns, as well as fines for violations of VAT field control related to applying the e-invoicing regulations and other general regulations. ZATCA encourages taxpayers to view the details of the schemes through the simplified guideline on its website and urges all taxpayers to benefit from the initiative during the allotted time.