The Ministry of Finance initiates a voluntary settlement of large tax payers with complete exemption from fines and interest.
Details:
The Ministry of Finance and the General Authority for Taxes and Fees announced today, for the first time, the launch of the "Voluntary Settlement Initiative for Large Taxpayers", with the aim of increasing tax compliance, encouraging taxpayers to correct their tax situation and establishing transparency and cooperation with the tax administration.
The initiative allows taxpayers to voluntarily disclose undeclared or unpaid tax liabilities in previous periods, and to regulate their situation according to procedures that include final closing of the included tax files.
The settlement procedures include a full exemption from fines, interest and fines, and not taking seizure measures or restricting commercial and banking traffic, with the option to pay the tax fund in installments according to easy terms.
The initiative appeals to large taxpayers who have not submitted their tax data, or have declared lower tax amounts than due, provided there are no pending tax cases or disputes before the judicial authorities or tax appeal committees.
The initiative lasts from November 15 to December 31, 2026, provided that requests for the benefit are submitted in writing to the office of the General Authority for Taxes and Fees within the stated period.