GAZT extends initiative to drop fines, payment penalties until Sept. 30

The General Authority of Zakat and Tax (GAZT) announced extending the initiative to drop fines and financial penalties for taxpayers until Sept. 30, the authority said in a statement.

All fines will be dropped on tax returns, which were required to be submitted by March 18 or any other tax returns, which were modified for the period from March 18 to Sept, 30, on condition that taxpayers will pay the due amounts after submitting or modifying the tax returns no later than Sept. 30.

GAZT will also drop all fines imposed on registering any person at GAZT for the period from March 18 to Sept, 30, on condition of submitting the required tax returns to the authority as of the registration date no later than Sept. 30.

Moreover, installment requests for due amounts without a ceiling will be accepted, based on the above items. No fines will be imposed on the due amounts as of the maturity date until Sept. 30. A delay penalty will be imposed starting Oct. 1, 2020 until all due amounts are fulfilled by the taxpayer. Installment requests should be submitted from March 18 until Sept. 30, GAZT added.

Last July, King Salman issued directives on extending a number of government initiatives to mitigate the effects of the coronavirus, Argaam reported.