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Tax Amnesty
Tax Amnesty Extension Announced
On 30 June 2024, the Zakat, Tax and Customs Authority (ZATCA) extends the initiative launched earlier during June 2022 exempting or abolishing fines and financial penalties imposed on taxpayers on account of lapse in fulfilling several procedural aspects related to taxes applicable in the Kingdom of Saudi Arabia.
The amnesty was extended for an additional period of 6 months until 31 December 2024.
The tax amnesty extension is applicable to penalties relating to Corporate Income Tax (CIT),…