Makkah Construction inks Zakat settlement agreement with GAZT

Makkah Construction and Development Co. (Makkah Construction) inked an agreement with the General Authority of Zakat and Tax (GAZT) to settle zakat claims for the years 2010- 2015, according to a bourse filing on Tuesday.

Under the agreement, the Zakat claims were reduced to SAR 31.57 million from SAR 67.18 million, the company said, adding the amount was already paid to GAZT on March 16, 2020.

The paid amount will be disclosed later in the financial statements, the statement added.