Extension in exemption from financial penalties for non-compliance

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On 7/6/1442 H / 21 January 2020, through ministerial resolution number 2303 Finance Minister of the Kingdom of Saudi Arabia His Excellency Mr. Mohamed Bin Abdullah Jadaan has extended exemption from financial penalties resulting from late registration, late return filing or amendment of previously filed returns for a period of three (3) additional months starting from 31 December 2020. The decision was made in pursuance of the Royal Decree number 45098 dated 7/23/1441 H, whereby His Royal Highness directed for emergency initiatives aimed at mitigating the financial and economic impact of the COVID -19 pandemic on the private business sector. The resolution equally applies to Zakat, Income Tax, Value Added Tax, Excise Tax and Customs. The said waiver of penalties has been linked with the date of payment of the related tax liabilities by the taxpayers.

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