MARAFIQ reaches settlement agreement with ZATCA on Zakat differences worth SAR 64.2 mln

23/01/2023 Argaam

MARAFIQ reaches settlement agreement with ZATCA on Zakat differences worth SAR 64.2 mln

MARAFIQ power plant in Yanbu

Power and Utility Company for Jubail and Yanbu (MARAFIQ) announced reaching a final agreement with Zakat, Tax and Customs Authority (ZATCA) on settling Zakat differences worth SAR 64.2 million for the years 2015, 2016, and 2017, according to a Tadawul statement.

 

Based on its IPO prospectus, MARAFIQ had stated that ZATCA imposed Zakat differences worth SAR 99.8 million on the company for 2015, 2016, and 2017.

 

MARAFIQ began trading on the Saudi Exchange (Tadawul) on Nov. 24, under the utilities sector, according to data available with Argaam.

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