The General Tax Authority announces the extension of the tax return submission period to May 31

The General Tax Authority has announced the extension of the period for submitting the tax return for the tax year 2022, for all entities subject to the income tax law, for an additional month, to end on May 31. The Authority stated, in a statement today, that companies operating in the field of petroleum operations and petrochemical industries are excluded from this extension, in addition to taxpayers who have accounting periods different from the tax year defined in Article (1) of the Income Tax Law promulgated by Law (24) of 2018 and its amendments. She indicated that she seeks to enhance the principle of tax compliance among taxpayers, stressing the importance of the commitment of all companies in the country to submit tax returns, as submitting the declaration on time avoids exposure to financial penalties. The Authority pointed out that companies benefit greatly from the tax system due to the consequent enhancement of their efficiency and governance.