Saudi committee approves AlBaha’s Zakat and Tax assessment for 2000-2010

30/12/2019 Argaam

AlBaha Investment and Development Co. (AlBaha) received on Dec. 29 a resolution from the Zakat and Tax Dispute Resolution Committee approving the dispute settlement related to the zakat assessment for the period 2000-2010.

 

The resolution entails reducing the Zakat and Tax settlement by SAR 4.8 million, from SAR 16.85 million to SAR 12.07 million, the company said in a statement to Tadawul on Monday.

 

AlBaha further noted that the financial impact of the newly issued resolution will be reflected on the company’s financial results of 2019, adding that further details will be announced in due course.

 

In July 2018, AlBaha received a resolution from the tax appeal committee rejecting the company’s appeal to settle its disputes from 2000 to 2010.

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