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Tax Alert: August 2020

Tax Alert: August 2020

Extension of Saudi Customs Self-Correction Program for Three Months

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The Saudi Arabia General Customs Authority (“Saudi Customs”) introduced a self-correction program, to run from 1 January 2020 until 30 June 2020, which would enable importers to declare and pay customs duties on any historic non-compliance with the KSA customs legislation. Due to the ongoing COVID-19 pandemic the program has been extended for three months until 30 September 2020.

Applying for self-correction within the specified conditions and timing allows the taxpayer to pay only the outstanding customs duties and taxes and they will not be subject to any additional penalties.

We recommend strongly that businesses consider the use of the self-correction program and take advantage of this extension to mitigate the imposition of penalties due for past errors. Please refer to our previous tax alert on the subject through the link below

KPMG KSA can advise the businesses on the matter and support with preparation for such voluntary disclosure as well ‎as ongoing compliance with the customs legislation in KSA.

Contact us

Riyadh Office

Wadih AbuNasr

Head of Tax, KSA and Levant
E: wabunasr@kpmg.com 

Nick Soverall

Head of Indirect Tax
E: nsoverall@kpmg.com

Mohamed Araji

Senior Director, Financial Services Tax
E: maraji@kpmg.com

Peter Bourke

Senior Director, M&A/ Int’l Tax
E: peterbourke@kpmg.com

Ali Sainudheen

Director, Tax & Zakat Compliance
E: asainudheen@kpmg.com

Stefan El Khouri

Director, Transfer Pricing
E: selkhouri@kpmg.com

Jeddah Office

Faisal Tanvir

Director, Tax & Zakat Compliancent
E: FTanvir@kpmg.com

Amine Mechalikh

Director, Indirect Tax
E: amechalikh1@kpmg.com

Khobar Office

Tareq Al Sunaid

Partner, Tax & Zakat Compliance
E: talsunaid@kpmg.com

Mohammad Kamran Sial

Senior Director, Tax & Zakat Compliance
E: ksial@kpmg.com

Anil Bahl

Director, Indirect Tax
E: anilbahl@kpmg.com

 

© 2020 KPMG Al Fozan & Partners Certified Public Accountants, a registered company in the Kingdom of Saudi Arabia, and a non-partner member firm of the KPMG network of independent firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

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