23 June 2022
The Saudi Zakat, Tax, and Customs Authority (ZATCA) recently announced the relaunch of its penalty exemption initiative that was first introduced in response to the COVID-19 pandemic in 2020. The initiative is relaunched with effect from 1 June 2022 to 30 November 2022 for all taxpayers. As explained in the English-language simplified guide on the penalty exemption initiative, exemptions are provided from:
In order to benefit from the initiative, specific conditions must be met, including but not limited to:
Taxes covered by the initiative include VAT, Withholding Tax, Excise Tax, Income Tax, and Real Estate Transaction Tax (RETT).
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