As part of Financial Stimulus Package announced by Saudi Government,Government of Saudi Arabia Implements Urgent Measures to Mitigate the Impact of Coronavirus on Economic Activities and Private Sector by:
• Enabling business owners, for a period of three months, to postpone the payment of value-added tax, excise tax, income tax, and the submission of Zakat declarations and the payment of obligations due therefrom. The decision allows also to grant zakat certificates without restrictions for the period of fiscal year 2019, and to accept instalment requests to the General Authority of Zakat and Income Tax without applying the condition of advance payment. In addition, postponing the execution of services suspension procedures and financial seizure by the General Authority of Zakat and Income, and setting the necessary criteria to extend the postponement period for the most affected activities as needed.
• Postponing the collection of customs duties on imports for a period of thirty days against the submission of a bank guarantee, for the next three months and setting the necessary criteria for extending the postponement period for the most affected activities as needed.
Source: https://www.mof.gov.sa/en/MediaCenter/news/Pages/News_20032020.aspx
1 Like
837
