Almadina, 13 February 2023: Saudi Arabia’s Zakat, Tax and Customs Authority has stated it is currently amending Saudi Arabia Cabinet Decision No. 654/1438 On the Approval of the Value Added Tax Law.
The changes will include late tax return submission fines.
According to the amendments, the Authority will be given the power to confiscate money from individuals who refuse to pay the final tax due.
Those who do not submit the tax return by the specified deadline will be fined two per cent of the outstanding tax amount for each month of delay.
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