Saudi Arabia – Tax Incentives Introduced to Stimulate Economy and Support Private Sector.
Due to the global outbreak of COVID-19, the General Authority of Zakat and Tax (GAZT) of Saudi Arabia has introduced the following initiatives:
- Monthly VAT returns submission deadlines have been extended as follows:
2. Quarterly VAT returns submission deadlines have been extended as follows:
The VAT returns filing date for all subsequent VAT periods remain unchanged.
3. Zakat and Corporate Income tax returns due during 19 March to 30 March 2020 have been extended by 3 months. For example, if the original due date was on 19 March 2020 then the extended due date is 19 June 2020.
4. Other stimuluses:
- 2019 Zakat certificates will be issued without any restrictions;
- All late tax payment, returns’ amendment and non-cooperation fines have been suspended;
- Suspension of all enforcement related GAZT portal suspensions.
Download PDF: Tax Stimulus Package Announced by Saudi Arabia