Saudi Fransi Capital completes Taleem REIT Fund GAZT registration

Saudi Fransi Capital said that Taleem REIT Fund registration with General Authority of Zakat and Tax (GAZT) have been finalized.

The company said registration procedure has been finalized by an external consultant, and the Zakat declarations for the following years have been filed with General Authority of Zakat and Tax (GAZT).

The company said in a statement to Tadawul that Zakat declarations are as follows:

1)  Zakat declaration for the period ended 31 December 2017 with no Zakat charges.

2) Zakat declaration for the year ended 31 December 2018 with Zakat charges amounting to SR 640,513. This charge has been paid by the Fund Manager. As such, it will not have any impact on the Fund’s assets.

Starting from 2019 onward, all Zakat charges will be borne by the Fund's assets.