Saudi Arabia: Tax amnesty through 31 December 2020 (COVID-19)

Saudi Arabia: Tax amnesty through 31 December 2020

The Minister of Finance announced the extension of penalty waivers for all tax filing and payment for an additional three months—until 31 December 2020—as part of the effort to mitigate the implications of the coronavirus (COVID-19) pandemic on economic activities.

1000

Related content

The amnesty for tax filing and payment applies for the waiver of penalties for Zakat, income tax, withholding tax, value added tax, and excise tax. The tax amnesty originally ran from 18 March 2020 until 30 June 2020, and then was extended until 30 September 2020.

Penalties will be waived for taxpayers who raised objections against tax assessments, on the condition that no final decision was made by the relevant authority (the General Secretariat of Tax Committees (GSTC) or the Board of Grievances). Penalties will be waived for the objecting taxpayers if they commit to paying the amount of tax due or if they request an installment plan within the new deadline which ends 31 December 2020.

The tax amnesty does not include a waiver of penalties incurred due to tax evasion.


For more information, contact KPMG’s Global Head of International Tax:

Rodney Lawrence | +1 (312) 665 5137 | rlawrence@kpmg.com

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal