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Al Babtain Power and Telecommunication Company announces that it has reached a settlement with the Zakat, Tax and Customs Authority regarding Zakat obligations for the period 2015 to 2018
| Element List | Explanation |
|---|---|
| Announcement Detail | Al Babtain Power and Telecommunication Company announces that Zakat, Tax and Customs Authority (the Authority) issued zakat assessment for years 2015 – 2018 that results zakat differences amount 32 million Saudi Ryals, and the company introduced objection for this amount to the General Secretariat of Tax Committees, the Committee for Settlement of Tax Violations and Disputes issued decision in favor to company, but the authority introduced appeal for this decision to General Secretariat of Tax Committees, and the decision was upheld in favor of the Authority. The company took all necessary procedures and introduced appeal against the decision to committee for Settlement of Tax Violations and Disputes, the company introduced all support documents which supporting the appeal, but in final this appeal was rejected at date 05/02/2024 and the decision became final for the zakat differences of period 2015-2018 by amount 32 million Saudi Riyals. The settlement is not expected to have a material impact on the company’s financial results, as part of the assessed differences have been provided for earlier. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 50.8
Net Change 0.5 (+0.99%)
Value Traded (Sar) 5,472,682
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