Saudi extends fine waiver for VAT till June 30

SourceGulf Insider
SectorEconomy
CountrySaudi Arabia

The Saudi General Authority of Zakat and Tax (GAZT) extended the waiver period of fines and financial penalties for non-payment of Value Added Tax (VAT) until June 30, 2021, local media reported.Taxpayers will be exempted from fines on delays in the payment of taxes or filing tax returns. They will be also exempted from the penalties imposed for correcting tax returns under the value-added tax (VAT) law.Taxpayers will be 100 per cent exempted from fines if they fully pay the principal tax amount under the relevant tax return during the period from January-March 2021.The GAZT added that 75 per cent of fines will be waived if taxpayers fully pay the principal tax under the relevant return during the period from April-May 2021. A 50 per cent waiver will also apply to taxpayers who fully pay the principal tax under the relevant tax return during June.Comments Read Next11 hours agoSaudi Arabia postpones first dose of vaccine24 hours agoSaudi Arabia reports 212 new virus cases, 4 deaths2 days agoSaudi Arabia announces 238 COVID-19 cases3 days agoSaudi records 226 new coronavirus cases, 156 recoveries4 days agoAstraZeneca and Moderna vaccines to be available in Saudi4 days agoSaudi records 170 new coronavirus cases4 days ...read more...