Saudi Arabia: Penalty waiver for taxes, including VAT and excise tax, extended through December 2024
Amnesty initiative that waives fines and penalties relating to corporate income tax, withholding tax, VAT, excise tax, and real estate transaction tax
Amnesty initiative that waives fines and penalties relating to corporate income tax
The Zakat, Tax and Customs Authority of Saudi Arabia (ZATCA) has extended to December 31, 2024, the amnesty initiative that waives fines and penalties relating to corporate income tax, withholding tax, value added tax (VAT), excise tax, and real estate transaction tax.
The amnesty initiative applies to fines related to:
- Late registration under all tax laws and regulations
- Delayed payment
- Late filing of tax returns
- Amendments in VAT returns
- Violation of VAT field detections
- Violation of electronic invoicing (e-invoicing) regulations
The amnesty initiative excludes the following fines:
- Fines paid before the effective date of the initial amnesty initiative on 1 June 2022
- Tax evasion fines
- Fines associated with returns due after July 1, 2024
Mandatory requirements
To benefit from this tax amnesty, taxpayers must:
- Register with ZATCA
- Submit outstanding returns along with payment of tax liability due or application for an installment plan
For more information, contact a KPMG tax professional:
Philippe Stephanny | philippestephanny@kpmg.com
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