Riyadh Cement receives ZATCA notice of SAR 25M withholding tax levy

Logo of Riyadh Cement Co.

Riyadh Cement Co. received today, July 22, a statement of account to the company branch from the Zakat, Tax, and Customs Authority (ZATCA), levying withholding tax returns worth SAR 25.04 million on the former for the years 2006-2010, which the company had prepaid.

 

In a statement to Tadawul, the company is following up with ZATCA to complete the levy procedures, expecting that the relevant positive impact will be reflected post redemption in Q3 2024.

 

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