ZATCA directs GACO to amend Zakat reports, pay SAR 7.9 mln claims

14/09/2021 Argaam

Logo of Al Gassim Investment Holding Co.

Al Gassim Investment Holding Co. (GACO) received letters from the Zakat, Tax and Customs Authority (ZATCA), requiring it to adjust its Zakat reports from 2019 to 2020, and pay Zakat differences worth SAR 7.87 million, according to a bourse statement today, Sept 14.

 

The firm clarified that it submitted the returns and paid Zakat for those years according to the consultants' and external auditors' mechanism of calculating Zakat.

 

According to ZATCA letters, the company can refute the required changes during the 60-day regulatory period from the date of receiving the letters. Accordingly, the company plans to submit an appeal during the specified period.

 

GACO will determine the related financial impact in due course, the statement noted.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read