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.
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 | email@example.com
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