Heavy rain hits Makkah, Madinah and Jeddah Al-Shafiyah in Madinah and Al-Basateen in Jeddah record highest rate of rainfall    Rabigh waterspout declared the strongest of its kind    67% surge in commercial registrations in 4Q 2024    Gunmen kill at least three Israelis in West Bank bus attack    PIF announces $7 billion inaugural Murabaha Credit Facility    Saudi FM and U.S. envoy to Lebanon discuss regional issues    Golden Globes 2025: France's 'Emilia Pérez' wins big, as 'The Brutalist' nabs major awards    Congo executes 102 'urban bandits' with 70 more set to be killed, officials say    Alabama nursing student wins Miss America 2025    New York first US city to have congestion charge    Demi Moore continues comeback with Golden Globe win    Chinese nationals arrested with gold bars and $800,000 cash in DR Congo    Body of missing Indian journalist found in septic tank    Dakar and CATRION team up to elevate catering experience at Dakar Rally Saudi Arabia 2025    Projected funding needs for 2025 estimated at SR139 billion as per annual borrowing plan    Bahrain stage dramatic comeback to defeat Oman and claim Khaleeji Zain 26 title    Elon Musk confirms Starlink application to launch internet services in Pakistan    AC Milan beats Juventus 2-1 to reach Supercoppa final against Inter    Ronaldo eyes AFC Champions League glory with Al Nassr    Meghan announces new Netflix lifestyle show    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    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.



GAZT extends penalty waiver until June 30
Published in The Saudi Gazette on 21 - 01 - 2021

RIYADH — The General Authority of Zakat and Tax (GAZT) extended the waiver period of fines and financial penalties for taxpayers until June 30, 2021, the authority said in a statement.
The move is part of the Kingdom's initiatives to stimulate the economy and support the private sector to face the economic fallout from the coronavirus outbreak.
As part of the initiative, taxpayers will be exempted from fines on delays in the payment of due taxes or filing tax returns. They will be also exempted from the penalties imposed for correcting tax returns under the value-added tax (VAT) law.
Taxpayers will be 100 percent exempted from fines if they fully pay the principal tax amount under the relevant tax return during the period from January-March 2021.
The GAZT added that 75 percent of fines will be waived if taxpayers fully pay the principal tax under the relevant tax return during the period from April-May 2021. A 50 percent waiver will also apply to taxpayers that fully pay the principal tax under the relevant tax return during June.
Waivers will also apply to the same penalties that might arise from any assessment or reassessment by the GAZT for any tax return that should be submitted ahead of the effective date of the initiative (Jan. 21, 2021). This comes on the condition that taxpayers will pay the principal amount under the tax return or the reassessment by the GAZT.
Waivers will apply according to the periods during which the principal tax amounts are paid.
Moreover, taxpayers will get a 100 percent waiver of unpaid fines, if the principal tax amount was fully paid before Jan. 21.
On the other hand, the GAZT said the measure does not include any waivers of penalties that were imposed by the authority, other than delays in tax payments, submission of tax returns, and correction of tax returns. The initiative does not also cover the fines imposed for tax evasions and the fines paid before Jan. 21.


Clic here to read the story from its source.