Shams agrees with GAZT to settle zakat claims

13/03/2019 Argaam

Tourism Enterprise Co. (Shams) has reached an agreement with the General Authority of Zakat and Tax (GAZT) to settle zakat claims from 1996 until the end of 2010, the firm said

in a statement to Tadawul on Wednesday.

 

Under the settlement agreement, the zakat claims will be reduced to SAR 3.6 million from around SAR 7.99 million, the statement said.

 

The deal is expected to positively impact the firm’s Q1 2019 financial results, it added.

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