The Minister of Finance has announced a six-month extension of the initiative that waives penalties related to tax and zakat obligations, reinforcing the government’s commitment to supporting taxpayers and encouraging voluntary compliance within the fiscal system.
The extension allows individuals and businesses to benefit from exemptions covering late payment penalties, failure-to-file fines, and certain other violations, provided that the principal dues are settled within the initiative’s timeframe. The move aims to ease financial pressures while maintaining core regulatory requirements.
Officials emphasized that the decision reflects a broader effort to support the private sector—particularly small and medium-sized enterprises—by enabling them to regularize their financial positions and continue operating sustainably amid evolving economic conditions.
The extended initiative is also expected to improve compliance rates, enhance collection efficiency, and foster a more balanced relationship between regulatory authorities and taxpayers, built on transparency, flexibility, and cooperation rather than punitive measures.
Overall, the move forms part of a comprehensive economic approach designed to stimulate growth, safeguard fiscal discipline, and strengthen the investment environment, in line with long-term development objectives.
