Saudi Arabia: Saudi Zakat, Tax, and Customs Authority exempts taxpayers from fines

By BMS AUDITING

Saudi Arabia introduces a tax liberation to cancel tax penalties.

Saudi Arabia: Saudi Zakat, Tax, and Customs Authority exempts taxpayers from fines

The Zakat, Tax, and the Customs Authority had extended the exemption plan for six months to minimize the pandemic consequences.

 

It has been declared that the taxpayers, who delayed in paying their bills would be exempted from the penalties. The plan commenced in June and would last till the end of November, as stated by the Saudi Press Agency. The exemption plan includes penalties for late registration, and delay in paying and submitting the declaration of all tax systems. The ZATCA has requested taxpayers to completely review the initiative over the web portal for details. 

Read More: One year grace period for VAT penalties in UAE

At BMS, we ensure that the VAT-related work is managed efficiently and with great expertise. Our services in Saudi Arabia comprise complete guidance on aligning your financial goals with the updated tax requirements based on the ZAKAT provisions and the laws of the Income Tax Authority. BMS provides reliable and precise advice related to VAT. They not only provide suggestions based on the initial survey but also the steps to be taken in the next stage. 

The VAT services in Saudi Arabia provided by BMS Auditing Saudi Arabia provide great efficiency and productivity cost-effectively and save time, so your team could focus on the financial aspects of the business. 

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