Saudi FM calls Indian, Pakistani counterparts to discuss developments    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Alkhorayef praises advancements in Al-Kharj food industries sector    MHRSD: 80% of recruitment offices are non-compliant with regulations    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Coronavirus: Tax measures announced in the Gulf so far
Published in The Saudi Gazette on 01 - 04 - 2020

AS the coronavirus pandemic causes economic damage across the world, governments are responding with emergency tax measures to help support their economies.
For employers and employees alike, the end of the tax year in the GCC has come at a bad time as businesses close and uncertainty lies ahead due to the impact of the coronavirus. To support the economy, almost all the GCC countries have announced measures such as postponement of filing and payment of taxes and reductions in taxes and government fees.
Here is a full list of the temporary changes to the tax system and how they affect GCC residents.
Saudi Arabia
In Saudi Arabia, the General Authority for Zakat and Tax (GAZT) introduced a general extension of three months for filing tax returns and payment related tax for registered taxpayers.
This means that taxpayers will not have to declare their income for the year until 30 June.
The extension applies for Zakat, income tax, withholding tax, value added tax (VAT), and excise tax due for the period from March 18 to June 30, 2020.
United Arab Emirates
In the United Arab Emirates, both Dubai and Abu Dhabi have introduced measures to help ease the pressure on taxpayers.
In Dubai, the government introduced a 20 percent refund on customs duties paid on imported goods and canceled the bank guarantee required to clear goods. Customs clearance fees have also been reduced by 90 percent for three months.
Abu Dhabi has reduced industrial land leasing fees by 25 percent on new contracts and suspended tourism and municipality fees for the tourism and entertainment sectors until the end of this year.
In addition, commercial vehicles have been exempted from annual registration fees while all other vehicles were exempted from road toll tariffs until the end of 2020.
Oman
Oman's Tax Authority announced on Tuesday a package of measures which include exemption from the usual penalties and fines for not submitting tax declarations.
Omani taxpayers are now allowed to pay taxes in installments, and these payments are exempted from additional penalties if affected due to coronavirus.
Donations given for the fight against coronavirus are also eligible for deductions from taxable income for the year 2020.
Earlier, Oman had announced that restaurants would be exemption from tourist and municipal tax until 31 August 2020, and commercial establishments would be exempt from municipal tax until the same date.
Qatar
The Qatari tax authority has extended the corporate income tax filing deadline for financial years ended Dec 31, 2019 from April 30, 2020 to 30 June 30, 2020.
Bahrain
Bahrain has announced various tax measures including a three-month exemption from municipal fees and tourism levies starting April 2020.
Kuwait
Unlike its GCC neighbors, Kuwait has not announced any specific tax measures as part of its stimulus package. -- Al Arabiya English


Clic here to read the story from its source.