Zamil Industrial Investment Co. Announces an update on Zamil Industrial Investment Company Announces Receiving Letters from the General Authority for Zakat & Tax (GAZT) Amending the Zakat Declarations Submitted for the years from 2014 to 2018 Demanding Additional Payments
| Element List | Explanation |
|---|---|
| Introduction | Reference to the Company’s announcement on Tadawul website, on 17 December 2020, regarding the receipt of letters from ZATCA amending the Zakat returns submitted for the fiscal years 2014 to 2018 and requesting payment of the Zakat differences.
The Company announces its receipt of the final zakat calculation letter based on the decision issued by the General Secretariat of the Zakat, Tax and Customs Committees for the year 2014 only, demanding payment of net differences amounting to SAR 7,316,105, as the claim being objected to was payment of additional differences amounting to SAR 43,295,893.
It is worth noting that the Company has sufficient provisions to settle the final difference amounts that were calculated. There will not be any material impact on the Company’s financial statements.
As for the Zakat file to pay differences for the fiscal years from 2015 to 2018, it is still pending with the concerned authorities, and the Company will announce any developments in this regard in due course. |
| Previous Announcement | Zamil Industrial Investment Company Announces Receiving Letters from the General Authority for Zakat & Tax (GAZT) Amending the Zakat Declarations Submitted for the years from 2014 to 2018 Demanding Additional Payments |
| Date of Previous Announcement on Saudi Exchange’s Website | 2020-12-17 Corresponding to 1442-05-02 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Company announces its receipt of the final zakat calculation letter based on the decision issued by the General Secretariat of the Zakat, Tax and Customs Committees for the year 2014 only, demanding payment of net differences amounting to SAR 7,316,105, as the claim being objected to was payment of additional differences amounting to SAR 43,295,893. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
| Delay consequences on the Company’s financial results | N/A |
| Additional Information | N/A |
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