Alinma Bank asked to pay SAR 1.7 bln extra zakat liability

15/02/2018 Argaam Special

 

Alinma Bank said it was requested to pay additional zakat claims of SAR 1.65 billion for the years 2009-2015, after the zakat authority applied a new accounting method to banks' long-term investments.

 

GAZT informed local banks of the application of a new method for assessment of tax liability on long-term investments and financing. 

 

Alinma Bank was urged to pay additional demands of SAR 1.65 billion, and it said it has not allocated any provisions for the claims.

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