The Ministry of Finance has announced a plan to apply for the waiver of fines before the year is through, and the Saudi Zakat, Tax, and Customs department has given a guide for the effort. The programme, according to the government, intends to lessen the financial effects of COVID-19 on the impacted enterprises. The seven-month project began on June 1, 2023, and it will end on December 31, 2023.
Although the prerequisites for taxpayers who might benefit from the initiative still exist, the book explains the exemption from penalties arising from late registration in all tax laws and regulations. In addition to other things, it exempts you from penalties for late payments and failure to file tax returns as well as the fee for a corrected VAT return.
