Amiantit records SAR 115 mln additional Zakat provision in Q3 2023

Saudi Arabian Amiantit Co.’s headquarters

Saudi Arabian Amiantit Co. said the financial impact of the Zakat claims reconsideration decision from the First Appeals Chamber for Income Tax Interventions and Disputes entailed recording a SAR 115 million additional Zakat provision in Q3 2023.

The company received, on Sept. 17, the reconsideration decision from the First Appeals Chamber via email from the General Secretariat of the Zakat, Tax and Customs Authority (ZATCA), accepting the reconsideration in form but rejecting it in substance, Argaam's data showed.

On Aug. 5, Amiantit received a claim notification from ZATCA to pay SAR 219.76 million worth of dues for 2015-2018, Argaam earlier reported.