Saudi Arabian Tax Amnesty deadline approaching has been saved
Saudi Arabian Tax Amnesty deadline approaching
The deadline for submissions under the Saudi Arabian Tax Amnesty in the Kingdom of Saudi Arabia (KSA) is rapidly approaching, with the cut-off date set for 31 May 2023. The Zakat, Tax and Customs Authority (ZATCA) had announced an extension of the initiative, allowing for penalties to be waived on a range of taxes including Corporate Income Tax (CIT), Withholding Tax (WHT), Value Added Tax (VAT), Real Estate Transaction Tax (RETT), Excise Tax (ET), and any errors related to e-invoicing.
For non-resident businesses that provide services in KSA on a Business-to-Consumer (B2C) or Business-to-Government (B2G) basis, it is crucial to carefully evaluate whether they should register for taxes within the Kingdom to avoid penalties.
We have developed an approach and methodology to assist businesses in identifying and correcting any errors or issues related to their past VAT returns and other taxes.
If you have not already done so, we highly recommend that you undertake a thorough review of your taxes as soon as possible to take full advantage of the amnesty benefits before the deadline passes.