Mulkia Gulf REIT says Zakat clauses updated for ZATCA registration

17/02/2022 Argaam

Logo of Mulkia Gulf Real Estate REIT Fund

Mulkia Investment Co., the fund manager of Mulkia Gulf Real Estate REIT Fund, announced the Zakat calculation clauses for the fund to complete the registration process at the Zakat, Tax and Customs Authority (ZATCA) are updated, according to a bourse filing.

 

The fund manager said, in a bourse filing, that the fund for Zakat purposes will be registered with ZATCA, starting from 2019.

 

The fund manager acknowledged that it is not possible to cancel the registration and stop paying Zakat to ZATCA until the expiry of the fund’s term unless changes are made to the mechanism of registration related to the investment funds for Zakat purposes from the regulatory authorities.

 

The effective date of the change in the Mulkia Gulf Real Estate REIT will be on March 3.

 

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