GACO says claim filed against ZATCA over 2018 Zakat returns dismissed

02/12/2021 Argaam

Logo of Al Gassim Investment Holding Co.

Al Gassim Investment Holding Co. (GACO) received the decision of the First Department for the determination of income tax violations and disputes in Riyadh, which dismissed the company’s lawsuit filed against the Zakat, Tax and Customs Authority (ZATCA) over the Zakat returns for 2018, according to a bourse filing today, Dec. 2.

 

The First Department’s decision also accepted ZATCA’s formal appeal, it added.

 

GACO revealed plans to refute the decision within the 30-day statutory period.

 

In September 2020, GACO received letters from ZATCA (formerly the General Authority of Zakat and Tax) to settle Zakat claims for 2014 to 2018 at a total value of SAR 13.26 million, Argaam reported.

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