Tax Stimulus Package in Saudi Arabia
Article Navigation
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:
| Monthly vat return period | Original return due date | Extended return due date |
|---|---|---|
| Feb 2020 | 31 March 2020 | 30 June 2020 |
| March 2020 | 30 April 2020 | 31 July 2020 |
| April 2020 | 31 May 2020 | 31 August 2020 |
| May 2020 | 30 June 2020 | 30 September 2020 |
2. Quarterly VAT returns submission deadlines have been extended as follows:
| Monthly vat return period | Original return due date | Extended return due date |
|---|---|---|
| 1st Quarter (Jan - Mar 2020) | 30 April 2020 | 31 july 2020 |
| 2nd Quarter (April - June 2020) | 31 july 2020 | 31 july 2020 |
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.
Mercans Recommend
View PDF
Tax Stimulus Package Announced by Saudi Arabia
Size
1.06 MB