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Zain Saudi to appeal $165m zakat, tax order

RIYADH, July 12, 2015

Zain Saudi will appeal an order from Saudi Arabia's Department of Zakat and Income Tax for extra payments worth SR619 million ($165.1 million) for the years 2009-2011, the kingdom's number three telecommunications operator said.

The payments, consisting of SR352 million of zakat and SR267 million of withholding tax, would be appealed within the 60-day period allowed, Zain Saudi said in a bourse filing.

Zain Saudi added there was no need for any provisions, based on advice from its advisers and auditors.

Zakat is a charitable contribution which is mandatory for all Muslims to pay.  - Reuters
 




Tags: tax | zain saudi | zakat |

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