RIYADH — The General Authority of Zakat and Tax (GAZT) announced further extension of the period for benefiting from its initiative of "Canceling fines and exemption from financial penalties for taxpayers", by a period of three months, ending on Dec. 31. This move of exempting penalty for the late payment of value added tax (VAT) returns is aimed at providing an opportunity for taxpayers to correct their financial conditions and enable them to perform their duties related to Zakat and tax, the Saudi Press Agency reported quoting the authority sources. The penalty waiver initiative comes within the framework of the package of initiatives launched by the government to stimulate the economy and support the private sector in overcoming the financial and economic impacts caused by the outbreak of coronavirus pandemic. Accordingly, the government announced some extraordinary measures on March 20 to support registered taxpayers to enable the business owners to postpone the submission of VAT returns and related payments, which fall due within the initiative period from March 18 to June 30. This key measure was intended to help businesses deal with managing cash flows over the next few months. Later on Aug. 17, GAZT announced that the penalty waiver and the financial penalty exemption that are part of the VAT amnesty introduced in March 2020 would be extended from June 30 to Sept. 30. The extension allowed businesses to register for VAT and submit their VAT returns past the normal deadlines without any additional penalties. Also, businesses that were already registered got the opportunity to use the extended amnesty period to correct omissions or errors in previously filed returns. GAZT stated that those taxpayers who have objections or claims regarding its decisions that were submitted before Sept. 30, and no final decision was issued in this regard by the competent judicial authority, can benefit from the new extension from Oct. 1 to Dec. 31, provided that the taxpayer commits to pay the principal tax due or make requests to be paid in installments during the extended period. It also stressed that the initiative does not include the financial fines imposed on the taxpayer because of a tax evasion violation. The authority called on those taxpayers, who wish to have more information about the initiatives that have been extended, to contact it via the uniform call center number 19993, which operates from 8 a.m. to 12 a.m., seven days a week, or customer care account on Twitter (@Gazt_Care), or e-mail ([email protected]), or via instant chats on GAZT's website -gazt.gov.sa