The Saudi Ministry of Commerce has revoked a fine imposed for VAT violations. This benefit is available till November 30. The ministry’s new decision comes as a relief to many business owners.
The waiver will include concessions levied by the Ministry on late registration of VAT, delay in payment of tax collected, delay in filing of tax return and alteration of return, and penalty imposed by field officers on invoice VAT.
Businesses will get this benefit till November 3. In the meantime, the authorities have made it possible for those who have not completed the VAT registration and have not submitted their returns to complete these within this period.
Story Highlights: saudi arabia cancelled fine on vat tax
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