Saudi Customs has extended the data correction scheme has been saved
Saudi Customs has extended the data correction scheme
On 1 January 2020, the General Authority of Customs (Saudi Customs) in the Kingdom of Saudi Arabia (KSA) announced a six-month window for importers to correct their past Customs records without having to pay any penalties through the Voluntary Disclosure Program (VDP). Please refer to Deloitte’s previous alert in this respect here. Saudi Customs has recently extended the VDP until 30 September 2020. This is a prime opportunity for importers to correct any under declared import and dutiable values, misclassified goods where lower duties were paid and or non-compliance with exemption conditions–importers will only be required to settle the underpayments that are due.
In addition to the VDP, the Value Added Tax (VAT) amnesty has also been extended in KSA to allow taxpayers to make similar corrections to VAT returns without penalty. Therefore, now may represent a good time to combine a review of both taxes and duties paid to ensure compliance.