- The ZATCA in Saudi Arabia has extended the grace period for exempting taxpayers from tax-related fines and penalties.
- The extension is until June 30, 2024 and applies to various types of taxes, not just VAT.
- Taxpayers must meet certain requirements to benefit from the initiative, such as registration in the tax system and submission of applicable tax returns.
- The fines included in the initiative cover late registration, late payment or submission of returns, correcting VAT returns, violations of e-invoicing provisions, and violations of other general VAT provisions.
- Taxpayers are encouraged to review the details of the initiative in the Simplified Guide on Cancellation Financial of Exemption and Penalties.
Source: fonoa.com
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- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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.
