Saudi Arabia Tax Agency Announces Further Extension of Initiative for Cancelling Fines, Exempting Financial Penalties

The Saudi General Authority of Zakat and Tax Jan. 1 announced the Minister of Finance’s decision to further extend, to June 30, 2026, from Dec. 31, 2025, the Cancellation of Fines and Exemption of Financial Penalties Initiative for taxpayers subject to all tax laws. The announcement includes: 1) exemptions from penalties for late registration, late payments, and the late filing of returns, and includes VAT return correction fines, penalties for field control violations regarding application of e-invoicing provisions, and other general VAT provisions; 2) registration requirements for taxpayers; 3) that taxpayers may request an installment payment plan from the Tax ...